Steel Billet Cash Price Experiences Large Decrease

by on

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.

* Get the complete prices every day on the MetalMiner IndX℠

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.

FREE Download: The Monthly MMI® Report – covering the Steel/Iron Ore markets.

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.