Steel Billet Cash Price Lower

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Commodities, Metal Prices, Premium

The steel billet cash price experienced the biggest price decline of the day, dropping 2.9 percent on the LME to close at $165.00 per metric ton on April 9, 2013. The steel billet 3-month price weakened by 2.7 percent on the LME, settling at $180.00 per metric ton.

Chinese steel prices were mixed for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($135.35) and a low price of CNY 830.00 ($133.74) per dry metric ton. On the tail of a three-day flat streak, the price of Chinese HRC rose by 1.3 percent, settling at CNY 3,880 ($625.21) per metric ton. The price of Chinese coking coal saw little movement at CNY 1,700 ($273.93) per metric ton.

The US HRC futures contract 3-month price saw little movement on Tuesday, closing out around $620.00 per short ton. The US HRC futures contract spot price saw little change in its price yesterday at $608.00 per short ton.