The steel billet cash price saw the biggest upwards shift for the day, rising 7.1 percent on the LME to close at $225.00 per metric ton on Friday, October 11. The steel billet 3-month price experienced a big shift last Friday, gaining 6.4 percent on the LME to finish at $250.00 per metric ton.
Chinese steel closed mixed last Friday. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($137.37) and a low price of CNY 830.00 ($135.73) per dry metric ton. Chinese slab prices inched up 0.3 percent to CNY 3,500 ($572.36) per metric ton. The price of Chinese HRC saw little movement at CNY 3,500 ($572.36) per metric ton.
The 3-month price of the US HRC futures contract remained essentially flat at $635.00 per short ton. The spot price of the US HRC futures contract flattened at $643.00 following two-days of declines.