Steel Billet Cash Price Finishes 30-Day Low

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Commodities, Metal Prices, Premium

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 hit a high price of CNY 840.00 ($135.79) and a low price of CNY 830.00 ($134.18) per dry metric ton. At CNY 3,800 ($614.30) per metric ton, the price of Chinese HRC was essentially unchanged. The price of Chinese coking coal showed little movement yesterday at CNY 1,490 ($240.87) per metric ton.

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.