Cash Price of Steel Billet Sees Small Jump

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Commodities, Metal Prices, Premium

Rising 2.3 percent to close at $220.00 per metric ton, the steel billet cash price experienced the biggest change on the LME for Thursday, October 24. Also on the LME, the steel billet 3-month price saw little movement yesterday at $230.00 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 ($138.10) and a low price of CNY 830.00 ($136.45) per dry metric ton. Chinese HRC stayed flat at around CNY 3,480 ($572.11) per metric ton. The price of Chinese coking coal remained essentially flat at CNY 1,370 ($225.23) per metric ton.

The US HRC futures contract 3-month price held steady around $650.00 per short ton. The spot price of the US HRC futures contract remained essentially flat at $651.00 per short ton.

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