LME Steel Billet Flattens After Two-Day Climb

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Chinese steel prices closed flat for the day. The price of iron ore 58% fines from India was range bound. Chinese HRC saw little change in its price last Friday. For the fifth day in a row, the price of Chinese coking coal remained essentially flat.

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The steel billet cash price flattened at $300.00 after two days of improvement on the LME. Following a two-day rise on the LME, the 3-month price of steel billet flattened at $285.00.

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The US HRC futures contract 3-month price saw little change in its price last Friday at $643.00 per short ton. For the fifth consecutive day, the US HRC futures contract spot price held flat at $676.00 per short ton.