Prices Reach 30-Day Low for LME Cash Price of Steel Billet

On April 10, 2013, the steel billet cash price fell by 3.0 percent on the LME, landing at $160.00 per metric ton and making it the day’s biggest mover. Following a 2.8 percent rise yesterday, the steel billet 3-month price closed on the LME at $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 ($135.38) and a low price of CNY 830.00 ($133.77) per dry metric ton. At CNY 3,880 ($625.34) per metric ton, the price of Chinese HRC was essentially unchanged. The price of Chinese coking coal remained essentially flat at CNY 1,700 ($273.99) per metric ton.

After three straight days of no change, the US HRC futures contract 3-month price decreased by 1.0 percent to $614.00 per short ton. The spot price of the US HRC futures contract held steady on Wednesday, remaining around $608.00 per short ton.

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