Cash Price of Steel Billet Collapses

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Commodities, Metal Prices, Premium

The steel billet cash price experienced the biggest price decline of the day, dropping 5.0 percent on the LME to close at $190.00 per metric ton on Monday, September 23. Also on the LME, the steel billet 3-month price fell 4.3 percent to $220.00 per metric ton.

Chinese steel prices were flat for the day. 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 ($135.68) per dry metric ton. The price of Chinese HRC saw little movement at CNY 3,540 ($578.68) per metric ton. The price of Chinese coking coal continues hovering around CNY 1,370 ($223.95) per metric ton for the fifth day in a row.

The 3-month price of the US HRC futures contract held steady on Monday, remaining around $625.00 per short ton. The US HRC futures contract spot price saw little price change on Monday at $643.00 per short ton.

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