Steel Billet 3-Month Price Gaining Again

by on
Style:
Category:
Commodities, Metal Prices, Premium

Strengthening prices ended a two-day flat streak as the steel billet 3-month price moved up by 8.7 percent on March 14, 2013 on the LME to $250.00 per metric ton. Also on the LME, the steel billet cash price showed little movement yesterday, hovering around $210.00 per metric ton.

Chinese steel prices were mixed for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($135.18) and a low price of CNY 830.00 ($133.57) per dry metric ton. Chinese HRC prices saw a 1.5 percent decline to CNY 3,870 ($622.79) per metric ton. Chinese coking coal stayed flat at around CNY 1,750 ($281.62) per metric ton.

Thursday saw the 3-month price of the US HRC futures contract drift down 1.6 percent to $625.00 per short ton after three quiet days. The US HRC futures contract spot price fell 0.3 percent yesterday to $610.00 per short ton.