Steel Billet Cash Price Decline After Improvement

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Commodities, Metal Prices, Premium

The cash price of steel billet fell 4.5 percent on Thursday, September 19 to $190.00 per metric ton on the LME, making it the day’s biggest mover. The 3-month price of steel billet declined 2.1 percent on the LME to $230.00 per metric ton, after two days of improvement.

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 ($137.25) and a low price of CNY 830.00 ($135.62) per dry metric ton. The price of Chinese HRC held steady at CNY 3,540 ($578.41) per metric ton. The price of Chinese coking coal remained essentially flat at CNY 1,370 ($223.85) per metric ton.

The US HRC futures contract 3-month price weakened by 0.5 percent, settling at $625.00 per short ton. The US HRC futures contract spot price finished the day at $643.00 per short ton following a 0.2 percent increase.

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