LME Steel Billet Sees Large Increase

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At $340.00 per metric ton, the steel billet cash price moved up 13.3 percent on Friday, January 10, making it the day’s biggest mover on the LME. At $335.00, the steel billet 3-month price finished the market day on the LME up 11.7 percent.

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Chinese steel prices closed flat for the day. The price of iron ore 58% fines from India was range bound. The price of Chinese HRC remained steady. Chinese coking coal held its value last Friday.

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The US HRC futures contract 3-month price closed at $635.00 per short ton. Following a couple days of improvement, prices fell by 0.5 percent. The spot price of the US HRC futures contract remained essentially flat at $675.00 per short ton.