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 remains on the high side of its latest range. Chinese HRC saw little change in its price on Monday. The price of Chinese coking coal remained essentially flat.
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.