In the week ended January 11, rising price movements were observed in the London Metal Exchange (LME) billet market after varied movements were recorded in the previous week. The following prices were recorded in LME billet contract trading as of the end of last week:
As of Jan 4 ($/mt) | As of Jan 11 ($/mt) | Percentage change (%) | ||||
Bid | Ask | Bid | Ask | Bid | Ask | |
Official, cash: | 270.00 | 281.00 | 294.00 | 296.00* | 8.9 | 5.4 |
Official, 3 months: | 300.00 | 310.00 | 320.00 | 330.00 | 6.7 | 6.45 |
Official, 15 months: | 365.00 | 375.00 | 380.00 | 390.00 | 4.1 | 4 |
*Official cash Ask or Offer price is the settlement price for the cash contract selling in two LME business days' time.
As of January 11, stock billet volumes increased to 83,070.00 mt as compared to 52,845.00 mt recorded on January 4.