3-Month Price of Steel Billet Just Off 30-Day Price Low

With a 6.2 percent increase over the past day, the 3-month price of steel billet was the biggest mover on the LME, closing at $170.00 per metric ton on Monday, April 29. The cash price of steel billet held steady yesterday on the LME, remaining around $130.00 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 ($136.28) and a low price of CNY 830.00 ($134.66) per dry metric ton. For the fifth day in a row, the price of Chinese HRC remained essentially flat at CNY 3,800 ($616.51) per metric ton. The price of Chinese coking coal saw essentially no change for the fifth day in a row, remaining around CNY 1,490 ($241.74) per metric ton.

After a 0.2 percent increase, the US HRC futures contract 3-month price finished the day at $606.00 per short ton. The US HRC futures contract spot price remained essentially flat at $598.00 per short ton.

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