Steel Billet Cash Price Sees Large Increase

On Thursday, December 19, the cash price of steel billet experienced the biggest change, rising 7.1 percent on the LME to $300.00 per metric ton. Also on the LME, the 3-month price of steel billet gained 1.8 percent to finish at $285.00 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 ($138.39) and a low price of CNY 830.00 ($136.74) per dry metric ton. Chinese HRC saw little change in its price yesterday at CNY 3,480 ($573.31) per metric ton. The price of Chinese coking coal saw essentially no change for the fifth day in a row, remaining around CNY 1,430 ($235.58) per metric ton.

The US HRC futures contract 3-month price saw little price change yesterday at $643.00 per short ton. The US HRC futures contract spot price saw little movement at $676.00 per short ton.

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