On March 6, 2013, the day’s biggest mover was the steel billet cash price, which saw a 7.1 percent increase on the LME to $225.00 per metric ton. This increase comes after the price fell for the two previous days.
Following a 2.2 percent rise yesterday, the steel billet 3-month price closed on the LME at $235.00 per metric ton.
Chinese steel prices were flat for the day. The prices of iron ore 58% fines from India remained rangebound. The price of Chinese HRC remained steady. For the fifth day in a row, the price of Chinese coking coal remained essentially flat.
The US HRC futures contract 3-month price fell 0.5 percent yesterday to $635.00 per short ton after three straight days with no change. The US HRC futures contract spot price held steady on Wednesday, remaining around $617.00 per short ton.