The steel billet cash price saw a 10.9 percent drop on the LME on March 19, 2013, landing at $205.00 per metric ton and making it the biggest mover of the day. The steel billet 3-month price fell 8.0 percent to $230.00 per metric ton yesterday on the LME after two days of no change.
Chinese steel prices were mixed for the day. The price of iron ore 58% fines from India remained rangebound. After a 1.8 percent increase, the price of Chinese HRC finished the day up. The price of Chinese coking coal was unchanged.
The US HRC futures contract 3-month price weakened by 0.8 percent, settling at $620.00 per short ton. Following a quiet couple of days, the US HRC futures contract spot price fell 0.2 percent on Tuesday to $609.00 per short ton.