LME Steel Billet Improves; China HRC, Coking Coal Steady

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The steel billet cash price saw the biggest upwards shift for the day, rising 2.9 percent on the LME to close at $360.00 per metric ton on Wednesday, March 5. The 3-month price of steel billet remained essentially flat on the LME at $355.00 per metric ton.

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Chinese steel prices were flat for the day. The price of iron ore 58% fines from India fluctuated within a small range. The price of Chinese HRC and Chinese coking coal both held steady.

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The 3-month price of the US HRC futures contract inched up slightly. The US HRC futures contract spot price held steady yesterday.