With a decline of 3.4 percent on the LME to $140.00 per metric ton on Thursday, April 18, the steel billet cash price recorded the biggest decline of the day. The steel billet 3-month price reached a thirty-day low on the LME after decreasing 2.9 percent to $165.00 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 ($136.04) and a low price of CNY 830.00 ($134.42) per dry metric ton. At CNY 3,790 ($613.80) per metric ton, Chinese slab fell 0.5 percent yesterday. Chinese HRC held its value yesterday at CNY 3,780 ($612.18) per metric ton.
The US HRC futures contract spot price rose 0.5 percent to $598.00 per short ton after a two-day drop. After falling 0.3 percent to $600.00 per short ton, the 3-month price of the US HRC futures contract reached a thirty-day low.