LME three-month steel billet price stays on upswing

The London Metal Exchange’s three-month steel billet contract continued its day-on-day upward trend on Thursday February 23, having risen by an average $35 since February 20.

The official bid/offer spread on the three-month contract was $523/528, compared with Wednesday’s $510/520. Part of the reason for the higher prices is a cost push for the semi-finished product, due to higher scrap prices and shortages in Turkey of natural gas, which is used to generate electricity....

Published

Christopher Rivituso

February 23, 2012

17:39 GMT

London