Steel Billet Cash Price Experiences Large Decrease

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Commodities, Metal Prices, Premium

On April 8, 2013, the day’s biggest mover was the cash price of steel billet, which saw a 5.3 percent decline on the LME to $170.00 per metric ton. Also on the LME, the 3-month price of steel billet fell 2.6 percent to $185.00 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 ($135.63) and a low price of CNY 830.00 ($134.02) per dry metric ton. The price of Chinese HRC held steady at CNY 3,830 ($618.43) per metric ton. The price of Chinese coking coal remained steady at CNY 1,700 ($274.50) per metric ton.

The US HRC futures contract spot price weakened by 0.8 percent, settling at $608.00 per short ton. The 3-month price of the US HRC futures contract showed little movement on Monday, hovering around $620.00 per short ton.