The steel billet cash price increased by 9.5 percent on March 18, 2013 to $230.00 per metric ton on the LME, making it the day’s biggest mover.
The steel billet 3-month price saw little price change yesterday on the LME at $250.00 per metric ton.
Chinese steel closed mixed on Monday. The prices of iron ore 58% fines from India drifted slightly lower. After holding steady for the past few days, the price of Chinese slab fell 2.3 percent. The price of Chinese HRC remained essentially flat.
The 3-month price of the US HRC futures contract rose 1.1 percent to $625.00 per short ton after a two-day drop. The US HRC futures contract spot price held steady yesterday, remaining around $610.00 per short ton.