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Prices switch to uptrend in LME billet market

Monday, 02 April 2012 10:20:02 (GMT+2)   -  

Tags: billet , semis , UK , Europe , steel futures , steelmaking , European Union | similar articles » SteelOrbis News

The following price movements were recorded in London Metal Exchange (LME) billet contract trading as of the end of last week:

As of Mar. 23 ($/mt)

As of Mar. 30 ($/mt)

Weekly change (%)

Bid

Ask

Bid

Ask

Bid

Ask

Official, cash:

465.00

470.00

490.00

500.00*

  5.38

  6.38

Official, 3 months:

500.00

520.00

510.00

520.00

  2

  -

Official, 15 months:

565.00

575.00

570.00

580.00

  0.9

  0.87

Evaluation closing, cash:

482.00

502.00

492.50

502.50

  2.18

  0.1

Evaluation closing, 3 months:

500.00

520.00

510.00

520.00

  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 totaled 43,420.00 mt as of March 30, decreasing from 51,740.00 mt recorded on March 23.

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