Cash Price of Steel Billet Climbs On the LME

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Commodities, Metal Prices, Premium

On Monday, May 6, the steel billet cash price experienced the biggest change, rising 15.0 percent on the LME to $130.00 per metric ton. The steel billet 3-month price remained essentially flat on the LME at $150.00 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 ($136.51) and a low price of CNY 830.00 ($134.89) per dry metric ton. Chinese HRC saw little change in its price on Monday at CNY 3,680 ($598.05) per metric ton. The price of Chinese coking coal remained essentially flat at CNY 1,490 ($242.14) per metric ton.

The US HRC futures contract spot price fell 0.5 percent on Monday to $595.00 per short ton. The US HRC futures contract 3-month price held steady around $607.00 per short ton.