3-Month Price of Steel Billet Sees Small Price Drop

With a decline of 2.6 percent on the LME to $190.00 per metric ton on April 5, 2013, the 3-month price of steel billet recorded the biggest decline of the day. The cash price of steel billet saw a 2.4 percent decline on the LME to $179.50 per metric ton.

Chinese steel prices were flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($135.40) and a low price of CNY 830.00 ($133.79) per dry metric ton. The price of Chinese HRC remained essentially flat at CNY 3,830 ($617.37) per metric ton. At CNY 1,700 ($274.03) per metric ton, the price of Chinese coking coal was essentially unchanged.

The US HRC futures contract spot price rose 0.2 percent to $613.00 per short ton. The 3-month price of the US HRC futures contract held steady around $620.00 per short ton.

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