LME steel billet prices dropped while Chinese and US steel futures prices gained — however, the bigger story emerged in steel’s raw materials inputs markets.
The London Metal Exchange, now under ownership of Hong Kong Exchanges and Clearing Limited , wants to begin offering iron ore, coking coal and iron ore shipping contracts, HKEx CEO Charles Li told Reuters on Friday.
“This is by virtue of our proximity to China and understanding of China, but on the other hand creating a mutual venue for the supply side of the business,” Li reportedly told Reuters in an interview.
On Oct. 19, 2012, the day’s biggest mover on MetalMiner’s steel price index was the cash price of steel billet, which saw a 1.5 percent decline on the LME to $335.00 per metric ton. Following two days of rising prices, the LME steel billet 3-month price dropped 1.4 percent to $345.00 per metric ton.
Chinese steel closed mixed last Friday. The price of iron ore 58% fines from India held steady in a pretty tight range. The price of Chinese HRC gained 0.8 percent, while the price of Chinese coking coal remained essentially flat.
The 3-month price of the US HRC futures contract inched up 0.8 percent to $640.00 per short ton. The spot price of the US HRC futures contract has been on the decline for 8 days and is now at $592.00 per short ton.
- English (UK)
- English (India)
- English (Canada)
- English (Australia)
- English (South Africa)
- English (Philippines)
- English (Nigeria)
- Deutsch
- Español (España)
- Español (México)
- Français
- Italiano
- Nederlands
- Português (Portugal)
- Polski
- Português (Brasil)
- Русский
- Türkçe
- العربية
- Ελληνικά
- Svenska
- Suomi
- עברית
- 日本語
- 한국어
- 简体中文
- 繁體中文
- Bahasa Indonesia
- Bahasa Melayu
- ไทย
- Tiếng Việt
- हिंदी
Wants Iron Ore, Coking Coal Contracts As Billet Prices Down, Futures Up
Published 10/23/2012, 01:36 AM
Updated 07/09/2023, 06:31 AM
Wants Iron Ore, Coking Coal Contracts As Billet Prices Down, Futures Up
Latest comments
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.