After a Couple Changeless Days, Cash Price of Steel Billet Weakens

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Commodities, Metal Prices, Premium

On Wednesday, June 12, the day’s biggest mover was the steel billet cash price, which saw a 3.7 percent decline on the LME to $130.00 per metric ton. After two changeless days, the steel billet 3-month price fell 3.2 percent on the LME to $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 ($136.89) and a low price of CNY 830.00 ($135.26) per dry metric ton. The price of Chinese HRC held steady at CNY 3,430 ($558.97) per metric ton. The price of Chinese coking coal saw essentially no change for the fifth day in a row, remaining around CNY 1,410 ($229.78) per metric ton.

The spot price of the US HRC futures contract inched up 2.2 percent to $603.00 per short ton. The US HRC futures contract 3-month price showed little movement on Wednesday, hovering around $605.00 per short ton.