Steel Billet 3-Month Price Gaining Again

After two changeless days on the LME, the steel billet 3-month price closed at $300.00 per metric ton on Thursday, January 9. Also on the LME, the steel billet cash price rose 1.7 percent to $300.00 per metric ton.

Chinese steel closed mixed yesterday. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($138.80) and a low price of CNY 830.00 ($137.14) per dry metric ton. After remaining flat for three days, the price of Chinese coking coal fell 0.7 percent on Thursday to CNY 1,420 ($234.63) per metric ton. After holding steady for the past few days, the price of Chinese HRC fell 0.3 percent, closing at CNY 3,470 ($573.36) per metric ton.

After a 0.7 percent increase, the US HRC futures contract spot price finished the day at $675.00 per short ton. The US HRC futures contract 3-month price inched up 0.5 percent to $638.00 per short ton.

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