During the week ended January 3, price trends moved both sideways and upwards in the London Metal Exchange (LME) billet market, compared to the overall sideways movement observed in the previous week. The following prices were recorded in LME billet contract trading as of the end of last week:
As of Dec. 27 ($/mt) | As of Jan. 3 ($/mt) | Percentage change (%) | ||||
Bid | Ask | Bid | Ask | Bid | Ask | |
Official, cash: | 290.00 | 300.00* | 290.00 | 300.00* | - | - |
Official, 3 months: | 285.00 | 295.00 | 290.00 | 300.00 | 1.75 | 1.7 |
Official, 15 months: | 345.00 | 355.00 | 350.00 | 360.00 | 1.45 | 1.4 |
*Official cash Ask or Offer price is the settlement price for the cash contract selling in two LME business days' time.
As of January 3, stock billet volumes totaled 16,510 mt, remaining unchanged compared to December 27.