Iron Ore Prices Fall, LME Cash Price of Steel Billet Collapses

by on

On March 11, 2013, the steel billet cash price fell by 4.5 percent on the LME, landing at $210.00 per metric ton and making it the day’s biggest mover. A $10.00 decline in the 3-month price of steel billet on the LME left the price at $230.00 per metric ton.

today's metal prices - MetalMiner IndXChinese steel prices closed flat for the day. The price of iron ore 58% fines from India occupied a slightly lower range than usual over the past week or so. (According to the Steel Index via the FT, 62% fines are at a two-and-a-half-month low.) The price of Chinese HRC was essentially unchanged. The price of Chinese coking coal held steady.

The US HRC futures contract 3-month price held steady around $635.00 per short ton. The US HRC futures contract spot price remained essentially flat at $612.00 per short ton.