Prices Hit 30-Day Low for Cash Price of Steel Billet

On Wednesday, April 17, the day’s biggest mover was the steel billet cash price, which saw a 6.5 percent decline on the LME to $145.00 per metric ton. The 3-month price of steel billet fell to a thirty-day low at $170.00 per metric ton after shifting 5.6 percent.

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 ($135.82) and a low price of CNY 830.00 ($134.20) per dry metric ton. At CNY 3,780 ($611.18) per metric ton, the price of Chinese HRC was essentially unchanged. Chinese coking coal held its value yesterday at CNY 1,550 ($250.61) per metric ton.

The US HRC futures contract 3-month price saw a 1.3 percent decline to $602.00 per short ton. The spot price of the US HRC futures contract declined 0.5 percent to $595.00 per short ton.