The steel billet cash price saw the biggest increase at 2.2 percent on the LME, finishing at $230.00 per metric ton for Friday, November 8. The steel billet 3-month price showed little movement last Friday on the LME at $235.00 per metric ton.
Chinese steel prices were mixed for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($137.88) and a low price of CNY 830.00 ($136.23) per dry metric ton. The price of Chinese slab declined 0.3 percent to CNY 3,510 ($576.12) per metric ton. The price of Chinese HRC remained essentially flat at CNY 3,540 ($581.05) per metric ton.
The spot price of the US HRC futures contract nudged up 1.1 percent last Friday, closing at $667.00 per short ton. The 3-month price of the US HRC futures contract inched up 0.8 percent to $655.00 per short ton.