You are here: Home > Steel News > Latest Steel News > Outlook ...

Outlook improves on the LME billet market

Tuesday, 15 February 2011 17:42:29 (GMT+2)   -  

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

The following price movements were recorded inon the London Metal Exchange (LME) billet contract trading as of the end of last week, indicating improvement over the past week.

 

As of February 4

As of February 11

Weekly Change %

 

Bid

Ask

Bid

Ask

Bid

Ask

*Official cash:

517.00

527.00*

532.00

542.00

2.90%

2.85%

Official 3 months:

536.00

541.00

550.00

555.00

2.61%

2.59%

Official 15 months:

605.00

615.00

620.00

630.00

2.48%

2.44%

Evaluation closing cash:

517.00

527.00

532.00

542.00

2.90%

2.85%

Evaluation closing 3 months:

536.00

541.00

550.00

555.00

2.61%

2.59%

* Official cash Ask or Offer price is the settlement price for the cash contract selling over two days of business at the LME.

Stock volumes decreased to  53,888 mt as of February 11.

According to the DeutscheBank-Stemcor report, the LME three-month billet contract opened at $546/mt and traded down to  by $540/mt on Tuesday but gained support and finished the week on a positive note at $560. Yesterday, the three-month contract traded at $561-565/mt.

DB Price Outlook for Billet prices at the LME is as follows as of February 14, 2011:

Latest 

Last Week Average     

Last Month Average        

Outlook

LME Billet Cash           

$537/mt 

$530/mt  (-1%)  

$556/mt (4%) 

Firm

LME Billet 3-Months     

$553/mt    

$545/mt  (-1%)  

$577/mt (5%)  

Firm *

* Prices expected to be supported above $560

 

Back All Articles
Back All Articles