Steel Billet 3-Month Price Rise

The 3-month price of steel billet saw a 7.5 percent increase on Monday, January 13, reaching $360.00 per metric ton on the LME and making it the biggest mover for the day. Monday closed the steel billet cash price at $359.00 per metric tonon the LME, after moving up 5.6 percent.

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 ($138.83) and a low price of CNY 830.00 ($137.18) per dry metric ton. The price of Chinese HRC remained essentially flat at CNY 3,470 ($573.52) per metric ton. Chinese coking coal saw little change in its price yesterday at CNY 1,420 ($234.70) per metric ton.

The US HRC futures contract 3-month price fell 0.2 percent to $634.00 per short ton. The spot price of the US HRC futures contract saw little price change yesterday at $675.00 per short ton.

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