Rising 2.2 percent to close at $235.00 per metric ton, the steel billet 3-month price experienced the biggest change on the LME for Wednesday, September 18. Also on the LME, the cash price of steel billet inched up 2.1 percent to $199.00 per metric ton.
Chinese steel prices were mixed for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($137.22) and a low price of CNY 830.00 ($135.59) per dry metric ton. The price of Chinese slab fell 0.8 percent to CNY 3,550 ($579.92) per metric ton. Chinese HRC stayed flat at around CNY 3,540 ($578.29) per metric ton.
The 3-month price of the US HRC futures contract rose by 0.8 percent to $628.00 per short ton. The US HRC futures contract spot price remained essentially flat at $642.00 per short ton.