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Cost push sees LME 3-month steel billet rise for third day straight

February 22, 2012 - 17:03 GMT Location: London

KEYWORDS: Global , LME , semi-finished products , longs , billet , 3M

The London Metal Exchange’s three-month steel billet contract had a third consecutive day of price hikes, having risen by a total of $15 since Monday February 20.

The official bid/offer spread on Wednesday February 22 was $510/520 per tonne, compared with $504.50/507.50 on Tuesday. “There is a cost push,” one trader said. He pointed to rising scrap prices, plus...

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.

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