The cash price of steel billet experienced the biggest price decline of the day, dropping 2.2 percent on the LME to close at $220.00 per metric ton on March 7, 2013. Also on the LME, the 3-month price of steel billet rose 2.1 percent to $240.00 per metric ton.

Chinese steel prices were flat for the day. The price of iron ore 58% fines from India moved up a bit. The price of Chinese HRC remained essentially flat. The price of Chinese coking coal saw little movement.

The US HRC futures contract spot price fell 0.8 percent to $612.00 per short ton. The US HRC futures contract 3-month price saw little price change on Thursday at $635.00 per short ton.