During the week ended July 19, the downward trend continued in London Metal Exchange (LME) billet market prices, with the decline rates growing stronger compared to the week ended July 12. The following prices were recorded in LME billet contract trading as of the end of last week:
As of July 12 ($/mt) |
As of July 19 ($/mt) |
Percentage change (%) |
||||
Bid |
Ask |
Bid |
Ask |
Bid |
Ask |
|
Official, cash: |
130.00 |
140.00* |
115.00 |
125.00* |
-11.5 |
-10.7 |
Official, 3 months: |
155.00 |
165.00 |
140.00 |
150.00 |
-9.6 |
-9.1 |
Official, 15 months: |
215.00 |
225.00 |
200.00 |
210.00 |
-7 |
-6.6 |
*Official cash Ask or Offer price is the settlement price for the cash contract selling in two LME business days' time.
As of July 19, stock billet volumes totaled 67,275.00 mt, decreasing from 74,750.00 mt recorded on July 12.