In the week ended August 31, downtrends dominated the London Metal Exchange (LME) billet market for the second consecutive week. The following price movements were recorded in LME billet contract trading as of the end of last week:
As of August 24 ($/mt) | As of August 31 ($/mt) | Percentage change (%) | ||||
Bid | Ask | Bid | Ask | Bid | Ask | |
Official, cash: | 350.00 | 350.50 | 340.00 | 342.00* | -2.6 | -2.4 |
Official, 3 months: | 360.00 | 370.00 | 355.00 | 365.00 | -1.4 | -1.35 |
Official, 15 months: | 420.00 | 430.00 | 415.00 | 425.00 | -1.2 | -1.2 |
Evaluation closing, cash: | 345.00 | 355.00 | 340.00 | 350.00 | -1.45 | -1.4 |
Evaluation closing, 3 months: | 360.00 | 370.00 | 355.00 | 365.00 | -1.4 | -1.35 |
*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 50,570.00 mt as of August 31, decreasing from 53,950.00 mt recorded on August 24.