LME Steel Billet Rises, China Iron Ore Price Steady

On Monday, September 2, the steel billet 3-month price experienced the biggest change, rising 6.7 percent on the LME to $160.00 per metric ton. Last Friday, the cash price of steel billet experienced a large decrease, rising 6.1 percent on the LME to land at $140.00 per metric ton.

Chinese steel closed mixed last Friday. The price of iron ore 58% fines from India remained rather rangebound. Chinese slab gained 1.4 percent. Chinese HRC fell 0.3 percent last Friday.

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The US HRC futures contract 3-month price showed little movement last Friday at $628.00 per short ton. The spot price of the US HRC futures contract saw little price change last Friday at $649.00 per short ton.

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