In the week ended December 7, falling price movements dominated the London Metal Exchange (LME) billet market, following the week-on-week increases observed in the previous week. The following prices were recorded in LME billet contract trading as of the end of last week:
As of Nov 30 ($/mt) | As of Dec 7 ($/mt) | Percentage change (%) | ||||
Bid | Ask | Bid | Ask | Bid | Ask | |
Official, cash: | 300.00 | 310.00 | 292.00 | 294.00* | -2.6 | -5.2 |
Official, 3 months: | 335.00 | 345.00 | 330.00 | 340.00 | -1.5 | -1.5 |
Official, 15 months: | 395.00 | 345.00 | 395.00 | 405.00 | - | 17.4 |
*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 63,830.00 mt as of December 7, compared to 70,785.00 mt recorded on November 30.