In the week ended November 2, prices fell slightly in the London Metal Exchange (LME) billet market, following the strong rise recorded in the previous week. The following prices were recorded in LME billet contract trading as of the end of last week:
As of Oct 26 ($/mt) | As of Nov 2 ($/mt) | Percentage change (%) | ||||
Bid | Ask | Bid | Ask | Bid | Ask | |
Official, cash: | 340.00 | 350.00 | 335.00 | 345.00* | -1.5 | -1.4 |
Official, 3 months: | 350.00 | 360.00 | 345.00 | 355.00 | -1.4 | -1.4 |
Official, 15 months: | 410.00 | 420.00 | 405.00 | 415.00 | -1.2 | -1.2 |
*Official cash Ask or Offer price is the settlement price for the cash contract selling in two LME business days' time.
Stock billet volumes decreased to 103,285.00 mt as of November 2, up compared to 111,085.00 mt recorded on October 26.