The day’s biggest mover was the cash price of steel billet which dropped by 2.5 percent on March 26, 2013 to close at $195.00 per metric ton on the LME. The 3-month price of steel billet weakened by 2.3 percent on the LME, settling at $210.00 per metric ton.
Chinese steel prices were mixed for the day. The price of iron ore 58% fines from India came off a tiny bit from the day before. The price of Chinese slab rose by 0.5 percent. The price of Chinese HRC saw little movement.
The 3-month price of the US HRC futures contract saw little change in its price yesterday at $625.00 per short ton. The spot price of the US HRC futures contract saw little movement on Tuesday, closing out around $608.00 per short ton.