Cash Price of Steel Billet Sees Large Increase

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Commodities, Metal Prices, Premium

On Thursday, September 26, the day’s biggest mover was the steel billet cash price, which saw a 4.5 percent increase on the LME to $209.00 per metric ton. The steel billet 3-month price flattened at $230.00 after two days of improvement on the LME.

Chinese steel closed mixed yesterday. 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 ($135.58) per dry metric ton. The price of Chinese slab fell 0.3 percent to CNY 3,520 ($575.00) per metric ton. The price of Chinese HRC saw little movement at CNY 3,540 ($578.27) per metric ton.

On the tail of a three-day flat streak, the US HRC futures contract spot price rose by 0.3 percent, settling at $645.00 per short ton. The US HRC futures contract 3-month price was unchanged at $625.00 per short ton.

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