Rising 2.2 percent to close at $235.00 per metric ton, the steel billet 3-month price experienced the biggest change on the LME for Wednesday, October 2. Also on the LME, the steel billet cash price held steady around $209.50 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 ($137.26) and a low price of CNY 830.00 ($135.62) per dry metric ton. At CNY 3,500 ($571.90) per metric ton, the price of Chinese HRC was essentially unchanged. For the fifth day in a row, the price of Chinese coking coal remained essentially flat at CNY 1,370 ($223.86) per metric ton.
The US HRC futures contract 3-month price rose 0.8 percent to $635.00 per short ton. The US HRC futures contract spot price inched up 0.8 percent to $635.00 per short ton.