During the week ended October 4, prices increased again in the London Metal Exchange (LME) billet market, continuing the upward movement seen in the previous weeks. The following prices were recorded in LME billet contract trading as of the end of last week:
As of Sept 27($/mt) | As of Oct 4 ($/mt) | Percentage change (%) | ||||
Bid | Ask | Bid | Ask | Bid | Ask | |
Official, cash: | 195.00 | 205.00 | 220.00 | 230.00* | +12.8 | +12.2 |
Official, 3 months: | 225.00 | 235.00 | 245.00 | 255.00 | +8.9 | +8.5 |
Official, 15 months: | 285.00 | 295.00 | 310.00 | 320.00 | +8.8 | +8.5 |
*Official cash Ask or Offer price is the settlement price for the cash contract selling in two LME business days' time.
As of October 4, stock billet volumes totaled 26,845 mt, down compared to 30,810 mt recorded on September 27.