In the week ended December 14, falling price movements dominated the London Metal Exchange (LME) billet market for the second consecutive week. The following prices were recorded in LME billet contract trading as of the end of last week:
As of Dec 7 ($/mt) | As of Dec 14 ($/mt) | Percentage change (%) | ||||
Bid | Ask | Bid | Ask | Bid | Ask | |
Official, cash: | 292.00 | 294.00 | 290.00 | 300.00* | -0.7 | 2 |
Official, 3 months: | 330.00 | 340.00 | 315.00 | 325.00 | -4.5 | -4.5 |
Official, 15 months: | 395.00 | 405.00 | 375.00 | 385.00 | -5,1 | -4.9 |
*Official cash Ask or Offer price is the settlement price for the cash contract selling in two LME business days' time.
Stock billet volumes decreased to 53,755.00 mt as of December 14, compared to 63,830.00 mt recorded on December 7.