The steel billet cash price saw a 3.7 percent increase on Thursday, July 11, reaching $140.00 per metric ton on the LME and making it the biggest mover for the day. The 3-month price of steel billet held steady on Thursday on the LME, remaining around $165.00 per metric ton.
Chinese steel closed mixed on Thursday. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($136.92) and a low price of CNY 830.00 ($135.29) per dry metric ton. Closing out a three-day flat streak, the price of Chinese HRC moved up 0.6 percent to CNY 3,570 ($581.93) per metric ton. The price of Chinese coking coal remained essentially flat at CNY 1,390 ($226.58) per metric ton.
The 3-month price of the US HRC futures contract fell 1.1 percent to $610.00 per short ton. The spot price of the US HRC futures contract saw little price change on Thursday at $635.00 per short ton.