Saturday, July 02,
The LME Steel Billet cash settlement price increased by $8/MT to reach $575/MT at yesterday’s close versus last week’s report but is $19/MT below its 2011 high which was recorded on June 1.
Prices have remained between the range of $550 and $600/MT for several months. According to analysts, “if the prices breakout above $600/MT then it will be a bullish sign for the market. But a breakout below $550 will be bearish”
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