The steel billet cash price saw the biggest upwards shift for the day, rising 7.1 percent on the LME to close at $150.00 per metric ton on Tuesday, April 23. After hitting a 30-day low of $170.00 per metric ton on Friday, April 19, the 3-month price of steel billet rose 6.2 percent yesterday on the LME.
Chinese steel prices were flat for the day. The price of iron ore 58% fines from India crept up to the upper end of its range. The price of Chinese HRC was essentially unchanged. The price of Chinese coking coal showed little movement yesterday.
The 3-month price of the US HRC futures contract remained essentially flat at $600.00 per short ton. The US HRC futures contract spot price held steady on Tuesday, remaining around $598.00 per short ton.