Steel Billet 3-Month Price Climbs Up the LME

The steel billet 3-month price saw the biggest increase at 6.9 percent on the LME, finishing at $155.00 per metric ton for Monday, July 29. The steel billet cash price experienced a big shift on Monday, gaining 4.2 percent on the LME to finish at $125.00 per metric ton.

Chinese steel closed mixed yesterday. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($137.01) and a low price of CNY 830.00 ($135.37) per dry metric ton. After remaining flat for three days, the price of Chinese HRC fell 0.3 percent yesterday to CNY 3,620 ($590.43) per metric ton. Following three days of little change, the price of Chinese slab rose by 0.3 percent to CNY 3,650 ($595.32) per metric ton.

The US HRC futures contract 3-month price closed at $610.00 per short ton. Following a couple days of improvement, prices fell by 0.5 percent. The US HRC futures contract spot price showed little movement on Monday at $636.00 per short ton.

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