Steel Billet Cash Price Declines 6.7%

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Commodities, Metal Prices, Premium

The steel billet cash price experienced the biggest price decline of the day, dropping 6.7 percent on the LME to close at $195.00 per metric ton on Monday, September 30. After two changeless days, the 3-month price of steel billet fell 2.2 percent on the LME to $225.00 per metric ton.

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 ($136.99) and a low price of CNY 830.00 ($135.36) per dry metric ton. Chinese HRC saw little change in its price yesterday at CNY 3,500 ($570.78) per metric ton. The price of Chinese coking coal continues hovering around CNY 1,370 ($223.42) per metric ton for the fifth day in a row.

The spot price of the US HRC futures contract weakened by 2.3 percent, settling at $630.00 per short ton. The 3-month price of the US HRC futures contract increased 0.3 percent to $627.00 per short ton.

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