The steel billet cash price closed Friday, November 22 at $230.00 per metric ton, halting its three-day flat run on the LME with a 2.2 percent shift. Friday saw the steel billet 3-month price drift down 2.1 percent to $230.00 per metric ton after three quiet days.

Chinese steel prices were flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($137.83) and a low price of CNY 830.00 ($136.19) per dry metric ton. Chinese HRC held its value last Friday at CNY 3,490 ($572.64) per metric ton. The price of Chinese coking coal was unchanged at CNY 1,390 ($228.07) per metric ton.

The 3-month price of the US HRC futures contract flattened at $650.00 following two-days of declines. The spot price of the US HRC futures contract remained essentially flat at $668.00 per short ton.