Steel Billet Cash Price Drops 7.1%

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Commodities, Metal Prices, Premium

The steel billet cash price saw the biggest decline of the day, dropping 7.1 percent on the LME to close at $130.00 per metric ton on Friday, June 28. Also on the LME, the 3-month price of steel billet showed little movement last Friday, hovering around $160.00 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 ($136.31) and a low price of CNY 830.00 ($134.68) per dry metric ton. The price of Chinese HRC remained essentially flat at CNY 3,450 ($559.83) per metric ton. The price of Chinese coking coal showed little movement last Friday at CNY 1,390 ($225.56) per metric ton.

The 3-month price of the US HRC futures contract gained 0.5 percent to finish at $620.00 per short ton. The spot price of the US HRC futures contract saw little change in its price last Friday at $598.00 per short ton.