Steel Billet Cash Price Gaining Again

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 price of iron ore 58% fines from India hit a high price of CNY 840.00 ($133.59) and a low price of CNY 830.00 ($132.00) per dry metric ton. After holding steady for the past few days, the price of Chinese slab fell 2.3 percent, closing at CNY 3,830 ($609.12) per metric ton. The price of Chinese HRC remained essentially flat at CNY 3,870 ($615.48) per metric ton.

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.

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