Cash Price of Steel Billet Jumps

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Commodities, Metal Prices, Premium

On Friday, July 26, the steel billet cash price experienced the biggest change, rising 9.1 percent on the LME to $120.00 per metric ton. Friday closed the 3-month price of steel billet at $145.00 per metric tonon the LME, after moving up 3.6 percent.

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 ($136.89) and a low price of CNY 830.00 ($135.26) per dry metric ton. The price of Chinese HRC remained essentially flat at CNY 3,630 ($591.57) per metric ton. The price of Chinese coking coal saw essentially no change for the fifth day in a row, remaining around CNY 1,370 ($223.27) per metric ton.

The 3-month price of the US HRC futures contract rose 0.2 percent to $613.00 per short ton. The spot price of the US HRC futures contract saw little change in its price last Friday at $636.00 per short ton.