3-Month Price of Steel Billet Increases Significantly

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Commodities, Metal Prices, Premium

The 3-month price of steel billet saw the biggest upwards shift for the day, rising 12.0 percent on the LME to close at $140.00 per metric ton on Monday, July 22. At $115.00, the cash price of steel billet finished the market day on the LME up 9.5 percent.

Chinese steel prices were flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($136.89) and a low price of CNY 830.00 ($135.26) per dry metric ton. Chinese HRC saw little change in its price on Monday at CNY 3,630 ($591.56) per metric ton. The price of Chinese coking coal continues hovering around CNY 1,370 ($223.26) per metric ton for the fifth day in a row.

The US HRC futures contract 3-month price held steady around $605.00 per short ton. The spot price of the US HRC futures contract saw little movement at $635.00 per short ton.