Cash Price of Steel Billet Falls 3.3%

On Wednesday, April 24, the day’s biggest mover was the steel billet cash price, which saw a 3.3 percent decline on the LME to $145.00 per metric ton. The 3-month price of steel billet showed little movement on Wednesday on the LME at $170.00 per metric ton.

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 ($135.91) and a low price of CNY 830.00 ($134.29) per dry metric ton. The price of Chinese HRC remained essentially flat at CNY 3,800 ($614.83) per metric ton. Chinese coking coal held its value on Wednesday at CNY 1,490 ($241.08) per metric ton.

After a few days of little change, the US HRC futures contract 3-month price jumped 0.2 percent, landing at $601.00 per short ton. The US HRC futures contract spot price held steady yesterday, remaining around $598.00 per short ton.

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