steel price

The week’s biggest mover on the Raw Steels MMI® was the 3-month price of steel billet, which saw a 2.4 percent decline on the LME to $411 per metric ton. Last week marked the fourth in a row of declining prices for the metal. The steel billet cash price dropped 2.1 percent on the LME this week, closing out the third consecutive week of falling prices at $410 per metric ton.

Chinese steel prices were mixed for the week. The price of iron ore 58% fines from India hit a high price of CNY 850 ($134) and a low price of CNY 840 ($132) per dry metric ton. The price of Chinese HRC rose 0.5 percent to CNY 4,150 ($655) per metric ton after falling 1.7 percent during the previous week. Chinese coking coal remained essentially flat from the previous week at CNY 1,780 ($281) per metric ton. Closing out the third week of declining prices, the price of Chinese slab dropped by 1.7 percent, finishing at CNY 4,020 ($634) per metric ton.

Following a 0.5 percent drop, the spot price of US HRC futures contract finished the week at $662 per short ton. Prices for US shredded scrap remained constant, closing the week at $432 per short ton. The 3-month price of US HRC futures contract closed at $655 per short ton after a flat week.

Korean steel prices were flat for the week. At KRW 440,000 ($376) per metric ton, the week finished with no movement for Korean steel scrap. Korean pig iron prices held steady from the previous week at KRW 790,000 ($675) per metric ton.

The Raw Steels MMI® collects and weights 13 global steel and raw material price points to provide a unique view into global steel price trends. For more information on the Raw Steels MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

At $410 per metric ton, the cash price of steel billet moved up 2.5 percent on May 30, 2012, making it the day’s biggest mover on the LME. Also on the LME, the 3-month price of steel billet rose 2.2 percent to $411 per metric ton.

Chinese steel prices closed flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 850 ($134) and a low price of CNY 840 ($132) per dry metric ton. At CNY 4,150 ($655) per metric ton, the price of Chinese HRC was essentially unchanged. The price of Chinese coking coal held steady at CNY 1,780 ($281) per metric ton.

The US HRC futures contract 3-month price saw little price change on Wednesday at $655 per short ton. The US HRC futures contract spot price saw little movement yesterday, closing out around $662 per short ton.

The week’s biggest mover on the Raw Steels MMI® was the 3-month price of steel billet, which saw a 2.4 percent decline on the LME to $411 per metric ton.

Last week marked the fourth in a row of declining prices for the metal. For the third week in a row, the LME cash price of steel billet dropped, falling 2.1 percent on the LME to $410 per metric ton.

Certain Chinese and Korean steel prices were also active.

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The LME steel billet cash price saw a 2.5 percent increase on May 30, 2012, reaching $410 per metric ton on the LME and making it the biggest mover for the day on our global steel price index. Also on the LME, the steel billet 3-month price rose 2.2 percent to $411 per metric ton.

Meanwhile, Chinese steel prices were flat for the day.

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Chinese steel plate saw a 4.4 percent drop-off this week, making it the biggest mover on the Renewables MMI® this week.

Meanwhile, the Chinese cobalt cathodes price increased 2 percent. The price of silicon fell 1.5 percent over the past week. This was the third week in a row of declining silicon prices. Also, neodymium traded sideways last week.

At above $1,000 per metric ton, the week finished with no movement for Japanese steel plate. Prices for Korean steel plate remained constant as well, while US steel plate fell 0.8 percent over the past week.

The grain-oriented electrical steel (GOES) price held steady, after registering a 5.8 percent month-on-month decline last week  on the Renewables MMI®. (The actual US GOES price is available in the MetalMiner IndX℠.)

The Renewables MMI® collects and weights 8 metal price points used extensively within the renewable energy industry to provide a unique view into renewable energy metal price trends. For more information on the Renewables MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

On May 29, 2012, the 3-month price of steel billet experienced the biggest change on our daily steel price index, rising 4.1 percent on the LME to $402 per metric ton. Yesterday, the LME cash price of steel billet experienced a large decrease, rising 3.9 percent to land at $400 per metric ton.

Chinese steel prices were mixed for the day.

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The week’s biggest mover on the Construction MMI® was the Chinese low price of 62% Australian iron ore fines, which saw a 1.9 percent decline. Last week marked the fourth in a row of declining prices for the metal.

Chinese steel was down, while US shredded scrap and bar fuel surcharges held relatively steady.

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Chinese steel plate saw a 4.4 percent drop-off this week to end at CNY 4,600 ($726) per metric ton, making it the biggest mover on the Renewables MMI® this week. After drifting 2 percent, Chinese cobalt cathodes dropped to CNY 24,500 ($3,869) per metric ton. The price of silicon fell 1.5 percent over the past week to CNY 13,400 ($2,116) per metric ton. This was the third week in a row of declining prices. Neodymium traded sideways last week, hovering around CNY 715,000 ($112,929) per metric ton.

At JPY 80,000 ($1,007) per metric ton, the week finished with no movement for Japanese steel plate. Prices for Korean steel plate remained constant, closing the week at KRW 1.1 million ($944) per metric ton. Chinese steel plate prices fell to CNY 4,600 ($726) per metric ton, down from CNY 4,810 ($760) a week ago. US steel plate fell 0.8 percent over the past week to $893 per short ton.

The Renewables MMI® collects and weights 8 metal price points used extensively within the renewable energy industry to provide a unique view into renewable energy metal price trends. For more information on the Renewables MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

The week’s biggest mover on the Construction MMI® was the Chinese low price of 62% Australian iron ore fines, which saw a 1.9 percent decline to CNY 1,010 ($159) per dry metric ton. Last week marked the fourth in a row of declining prices for the metal. At CNY 4,140 ($653) per metric ton, the price of Chinese rebar finished the week down one percent. US shredded scrap remained essentially flat from the previous week at $432 per short ton. At CNY 3,950 ($625) per metric ton, the price of Chinese H-beam steel did not change since the previous week.

Prices for Chinese aluminum bar remained constant, closing the week at CNY 14,050 ($2,219) per metric ton. European 1050 aluminum prices held steady from the previous week at EUR 2,327 ($3,055) per metric ton.

The weekly US Midwest bar fuel surcharge closed at $0.53 per short ton after a flat week. Closing at $0.56 per short ton, the weekly US Rocky Mountain bar fuel surcharge remained unchanged for the week. At $0.53 per short ton, the weekly US Gulf Coast bar fuel surcharge remained essentially flat.

The Construction MMI® collects and weights 9 metal price points used within the construction industry to provide a unique view into construction industry price trends. For more information on the Construction MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

On May 29, 2012, the 3-month price of steel billet experienced the biggest change, rising 4.1 percent on the LME to $402 per metric ton. Yesterday, the cash price of steel billet experienced a large decrease, rising 3.9 percent on the LME to land at $400 per metric ton.

Chinese steel prices were mixed for the day. The price of iron ore 58% fines from India hit a high price of CNY 850 ($134) and a low price of CNY 840 ($132) per dry metric ton. The price of Chinese HRC improved by 0.7 percent, closing at CNY 4,150 ($655) per metric ton yesterday. Chinese slab ended the day at CNY 4,020 ($634) per metric ton, after the 0.5 percent drop on Tuesday.

The 3-month price of US HRC futures contract showed little movement yesterday at $655 per short ton. The spot price of US HRC futures contract remained essentially flat at $662 per short ton.

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