Steel Billet Cash Price Drops 3.4%

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Commodities, Metal Prices
The steel billet cash price saw the biggest decline of the day, dropping 3.4 percent on the LME to close at $285.00 per metric ton on Friday, January 3. For the fifth consecutive day, the 3-month price of steel billet held flat on the LME at $285.00 per metric ton.

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 ($138.82) and a low price of CNY 830.00 ($137.17) per dry metric ton. For the fifth day in a row, the price of Chinese HRC remained essentially flat at CNY 3,480 ($575.10) per metric ton. The price of Chinese coking coal saw little movement at CNY 1,430 ($236.32) per metric ton.

The 3-month price of the US HRC futures contract showed little movement last Friday at $633.00 per short ton. The spot price of the US HRC futures contract remained essentially flat at $675.00 per short ton.

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