During the week ended July 12, a decline was seen in the London Metal Exchange (LME) billet market prices, following the strong rise observed in the week ended July 5. The following prices were recorded in LME billet contract trading as of the end of last week:
As of July 5 ($/mt) |
As of July 12 ($/mt) |
Percentage change (%) |
||||
Bid |
Ask |
Bid |
Ask |
Bid |
Ask |
|
Official, cash: |
135.00 |
145.00 |
130.00 |
140.00* |
-3.7 |
-3.4 |
Official, 3 months: |
160.00 |
170.00 |
155.00 |
165.00 |
-3.1 |
-2.9 |
Official, 15 months: |
225.00 |
235.00 |
215.00 |
225.00 |
-4.4 |
-4.25 |
*Official cash Ask or Offer price is the settlement price for the cash contract selling in two LME business days' time.
As of July 12, stock billet volumes totaled 74,750.00 mt, down slightly compared to the 74,880.00 mt recorded on July 5.