In the week ended March 15, prices switched to an uptrend in the London Metal Exchange (LME) billet market, following two weeks of decrease. The following prices were recorded in LME billet contract trading as of the end of last week:
As of Mar 8 ($/mt) | As of Mar 15 ($/mt) | Percentage change (%) | ||||
Bid | Ask | Bid | Ask | Bid | Ask | |
Official, cash: | 210.00 | 225.00 | 230.00 | 250.00* | 9.5 | 11.1 |
Official, 3 months: | 230.00 | 245.00 | 250.00 | 270.00 | 8.7 | 10.2 |
Official, 15 months: | 295.00 | 305.00 | 315.00 | 325.00 | 6.8 | 6.5 |
*Official cash Ask or Offer price is the settlement price for the cash contract selling in two LME business days' time.
As of March 15, stock billet volumes totaled 83,070.00 mt, stable compared to the March 8 level.