The 3-month price of steel billet increased by 20.0 percent on Friday, September 13 to $210.00 per metric ton on the LME, making it the day’s biggest mover. The cash price of steel billet increased 20.0 percent on the LME to $180.00 per metric ton.
Chinese steel closed mixed last Friday. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($137.32) and a low price of CNY 830.00 ($135.69) per dry metric ton. Chinese HRC finished the day down 1.4 percent to CNY 3,550 ($580.36) per metric ton. At CNY 3,600 ($588.53) per metric ton, Chinese slab fell 0.6 percent last Friday.
The US HRC futures contract 3-month price saw little movement last Friday, closing out around $623.00 per short ton. The US HRC futures contract spot price remained essentially flat at $642.00 per short ton.