On Tuesday, May 14, the steel billet cash price fell by 7.4 percent on the LME, landing at $125.00 per metric ton and making it the day’s biggest mover. Also on the LME, the steel billet 3-month price saw little movement yesterday at $155.00 per metric ton
Chinese steel prices were mixed for the day. The price of iron ore 58% fines from India dipped slightly lower than the day before. Chinese HRC ended the day after a 0.8 percent drop yesterday. Chinese coking coal held its value on Monday.
The 3-month price of the US HRC futures contract remained essentially flat at $607.00 per short ton. The US HRC futures contract spot price held steady around $583.00 per short ton.