The steel billet cash price saw the biggest increase at 3.8 percent on the LME, finishing at $135.00 per metric ton for Friday, May 10. The 3-month price of steel billet experienced a big shift last Friday, gaining 3.3 percent on the LME to finish at $155.00 per metric ton.
Chinese steel prices were mixed for the day. The price of iron ore 58% fines from India rose, breaking through a new price ceiling. After two changeless days, the price of Chinese slab fell 0.5 percent. The price of Chinese HRC remained steady.
The US HRC futures contract 3-month price remained essentially flat at $607.00 per short ton. Following two days of downward movement, the spot price of the US HRC futures contract held steady at $583.00 per short ton.