Steel Billet Cash Price Experiences Large Decrease
With a decline of 8.7 percent on the LME to $200.00 per metric ton on Wednesday, September 25, the cash price of steel billet recorded the biggest decline of the day. Also on the LME, the steel billet 3-month price increased 2.2 percent to $230.00 per metric ton.
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Chinese steel prices were mixed for the day. The price of iron ore 58% fines from India was range bound. Chinese slab closed 0.3 percent lower. For the fifth consecutive day, the price of Chinese HRC held flat.
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The US HRC futures contract 3-month price remained essentially flat at $625.00 per short ton. The US HRC futures contract spot price held steady yesterday, remaining around $643.00 per short ton.