Cash Price of Steel Billet Sees Large Increase

The cash price of steel billet saw the biggest increase at 4.2 percent on the LME, finishing at $125.00 per metric ton for Wednesday, June 19. The steel billet 3-month price jumped 3.6 percent on the LME to finish at $145.00 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 ($137.03) and a low price of CNY 830.00 ($135.40) per dry metric ton. At CNY 3,450 ($562.81) per metric ton, the price of Chinese HRC was essentially unchanged. For the fifth consecutive day, the price of Chinese coking coal held flat at CNY 1,410 ($230.02) per metric ton.

The 3-month price of the US HRC futures contract showed little movement on Wednesday at $605.00 per short ton. The spot price of the US HRC futures contract saw little movement yesterday at $600.00 per short ton.

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