During the week ended September 20, prices increased in the London Metal Exchange (LME) billet market, continuing the upward movement seen in the previous week. The following prices were recorded in LME billet contract trading as of the end of last week:
As of Sept 13($/mt) | As of Sept 20 ($/mt) | Percentage change (%) | ||||
Bid | Ask | Bid | Ask | Bid | Ask | |
Official, cash: | 170.00 | 180.00 | 190.00 | 200.00* | +11.8 | +11.1 |
Official, 3 months: | 200.00 | 210.00 | 220.00 | 225.00 | +10 | +7.14 |
Official, 15 months: | 260.00 | 270.00 | 280.00 | 290.00 | +7.7 | +7.4 |
*Official cash Ask or Offer price is the settlement price for the cash contract selling in two LME business days' time.
As of September 20, stock billet volumes totaled 34,385 mt, down compared to 34,645 mt recorded on September 13.