Steel Billet Cash Price Lower

by on
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.