On March 11, 2013, the steel billet cash price fell by 4.5 percent on the LME, landing at $210.00 per metric ton and making it the day’s biggest mover. A $10.00 decline in the 3-month price of steel billet on the LME left the price at $230.00 per metric ton.

Chinese steel prices closed flat for the day. The price of iron ore 58% fines from India occupied a slightly lower range than usual over the past week or so. (According to the Steel Index via the FT, 62% fines are at a two-and-a-half-month low.) The price of Chinese HRC was essentially unchanged. The price of Chinese coking coal held steady.

The US HRC futures contract 3-month price held steady around $635.00 per short ton. The US HRC futures contract spot price remained essentially flat at $612.00 per short ton.