Steel Billet 3-Month Price Drops Again

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Commodities, Metal Prices, Premium

The steel billet 3-month price experienced the biggest price decline of the day, dropping 6.0 percent on the LME to close at $235.00 per metric ton on March 21, 2013. The cash price of steel billet climbed 4.9 percent on the LME to $215.00 per metric ton.

Chinese steel prices closed flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($135.22) and a low price of CNY 830.00 ($133.61) per dry metric ton. Chinese HRC stayed flat at around CNY 3,940 ($634.25) per metric ton. The price of Chinese coking coal was unchanged at CNY 1,750 ($281.71) per metric ton.

At $625.00, the US HRC futures contract 3-month price finished the market day up 0.8 percent per short ton. The US HRC futures contract spot price remained essentially flat at $609.00 per short ton.