In the week ended April 26, a mostly stable trend was observed in the London Metal Exchange (LME) billet market, after the falling prices recorded in the previous week. Strong declines had been recorded in the market since mid-March. The following prices were recorded in LME billet contract trading as of the end of last week:
As of Apr 19 ($/mt) | As of Apr 26 ($/mt) | Percentage change (%) | ||||
Bid | Ask | Bid | Ask | Bid | Ask | |
Official, cash: | 140.00 | 140.50 | 130.00 | 140.00* | -7.1 | -0.4 |
Official, 3 months: | 160.00 | 170.00 | 160.00 | 170.00 | - | - |
Official, 15 months: | 220.00 | 230.00 | 220.00 | 230.00 | - | - |
*Official cash Ask or Offer price is the settlement price for the cash contract selling in two LME business days' time.
As of April 26, stock billet volumes totaled 77,480.00 mt, decreasing slightly compared to the 77,545.00 mt recorded on April 19.