Steel Billet 3-Month Price Improves Slightly

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Commodities, Metal Prices, Premium

The 3-month price of steel billet saw the biggest upwards shift for the day, rising 2.2 percent on the LME to close at $235.00 per metric ton on Monday, November 25. Also on the LME, the cash price of steel billet increased 2.2 percent to $235.00 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 ($137.83) and a low price of CNY 830.00 ($136.19) per dry metric ton. Chinese HRC held its value yesterday at CNY 3,490 ($572.64) per metric ton. The price of Chinese coking coal saw essentially no change for the fifth day in a row, remaining around CNY 1,390 ($228.07) per metric ton.

The 3-month price of the US HRC futures contract remained essentially flat at $650.00 per short ton. The spot price of the US HRC futures contract continues hovering around $668.00 per short ton for the fifth day in a row.

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