Steel Billet Cash Price Climbs On the LME

The cash price of steel billet saw the biggest increase at 8.3 percent on the LME, finishing at $130.00 per metric ton for Monday, July 15. Monday closed the steel billet 3-month price at $155.00 per metric tonon the LME, after moving up 3.3 percent.

Chinese steel closed mixed yesterday. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($136.79) and a low price of CNY 830.00 ($135.16) per dry metric ton. Following three days of little change, the price of Chinese slab rose by 0.6 percent to CNY 3,610 ($587.88) per metric ton. At CNY 3,570 ($581.37) per metric ton, the price of Chinese HRC was essentially unchanged.

The 3-month price of the US HRC futures contract saw little change in its price on Monday at $610.00 per short ton. For the fifth consecutive day, the spot price of the US HRC futures contract held flat at $635.00 per short ton.

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