In the week ended November 9, prices continued to fall in the London Metal Exchange (LME) billet market, following the week-on-week decrease 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 2 ($/mt) | As of Nov 9 ($/mt) | Percentage change (%) | ||||
Bid | Ask | Bid | Ask | Bid | Ask | |
Official, cash: | 335.00 | 345.00 | 315.00 | 315.00* | -6 | -8.7 |
Official, 3 months: | 345.00 | 355.00 | 340.00 | 345.00 | -1.45 | -2.8 |
Official, 15 months: | 405.00 | 415.00 | 400.00 | 410.00 | -1.2 | -1.2 |
*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 95,485.00 mt as of November 9, compared to 103,285.00 mt recorded on November 2.