Steel Billet Climbs On the LME

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The cash price of steel billet saw the biggest increase at 4.3 percent on the LME, finishing at $240.00 per metric ton for Friday, November 29. Also on the LME, the steel billet 3-month price showed little movement last Friday, hovering around $240.00 per metric ton.

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Chinese steel prices were flat for the day. The price of iron ore 58% fines from India was range bound. The price of Chinese HRC was unchanged. The price of Chinese coking coal continues to hover for the fifth day in a row.

The US HRC futures contract 3-month price rose by 0.3 percent to $652.00 per short ton after a three-day flat streak. After three straight days of no change, the US HRC futures contract spot price decreased by 0.3 percent to $666.00 per short ton.