The steel billet 3-month price saw a 8.6 percent drop on the LME on Monday, April 22, landing at $160.00 per metric ton and making it the biggest mover of the day. Cash billet saw its price drop on the LME 8.5 percent to a thirty-day low of $140.00 per metric ton on Monday.
Chinese steel prices were mixed for the day. The price of iron ore 58% fines from India inched a tiny bit higher. After three straight days of no change, the price of Chinese coking coal decreased by 3.9 percent. Following three days of little change, the price of Chinese HRC rose by 0.5 percent.
The US HRC futures contract 3-month price remained essentially flat at $600.00 per short ton. The US HRC futures contract spot price showed little movement on Monday, hovering around $598.00 per short ton.