3-Month Price of Steel Billet on the Decline

On Monday, June 24, the day’s biggest mover was the 3-month price of steel billet, which saw a 6.9 percent decline on the LME to $135.00 per metric ton. The cash price of steel billet dropped by 4.0 percent on the LME to $120.00 per metric ton after holding steady.

Chinese steel prices were mixed for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($136.82) and a low price of CNY 830.00 ($135.19) per dry metric ton. Monday saw the price of Chinese coking coal drift down 1.4 percent to CNY 1,390 ($226.40) per metric ton after three quiet days. Chinese HRC saw little change in its price on Monday at CNY 3,450 ($561.93) per metric ton.

The US HRC futures contract 3-month price saw little movement at $605.00 per short ton. The US HRC futures contract spot price remained essentially flat at $600.00 per short ton.

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