The day’s biggest mover was the cash price of steel billet which dropped by 13.3 percent on Friday, April 26 to close at $130.00 per metric ton on the LME. The steel billet 3-month price reached a 30-day low on the LME after decreasing 5.9 percent to $160.00 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 ($136.06) and a low price of CNY 830.00 ($134.44) per dry metric ton. The price of Chinese HRC held steady at CNY 3,800 ($615.49) per metric ton. Chinese coking coal saw little change in its price last Friday at CNY 1,490 ($241.34) per metric ton.
The US HRC futures contract 3-month price inched up 0.2 percent to $605.00 per short ton. The US HRC futures contract spot price remained essentially flat at $598.00 per short ton.