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 prices of iron ore 58% fines from India kept hovering at the high end of its recent range. For the fifth day in a row, the price of Chinese HRC remained essentially flat. The price of Chinese coking coal saw essentially no change for the fifth day in a row.
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.