LME billet market prices switch to downtrend

Monday, 12 March 2012 10:03:04 (GMT+2)   -  

Tags: billet , semis , UK , Europe , steel futures , steelmaking , European Union | similar articles » SteelOrbis News

The following price movements were recorded in London Metal Exchange (LME) billet contract trading as of the end of last week:

As of Mar. 2 ($/mt)

As of Mar. 9 ($/mt)

Weekly change (%)

Bid

Ask

Bid

Ask

Bid

Ask

Official, cash:

515.00

520.00

486.00

488.00*

  -5.63

  -6.15

Official, 3 months:

535.00

540.00

520.00

525.00

  -2.8

  -2.78

Official, 15 months:

590.00

600.00

580.00

590.00

  -1.69

  -1.67

Evaluation closing, cash:

514.00

519.00

500.00

505.00

  -2.73

  -2.7

Evaluation closing, 3 months:

535.00

540.00

520.00

525.00

  -2.8

  -2.78

*Official cash Ask or Offer price is the settlement price for the cash contract selling in two LME business days' time.

Stock billet volumes totaled 63,505.00 mt as of March 9, decreasing from 69,225.00 mt recorded on March 2.