In the week ended June 15, prices in the London Metal Exchange (LME) billet market switched to an uptrend following a sharp fall in the previous month. The following price movements were recorded in LME billet contract trading as of the end of last week:
As of June 08 ($/mt) | As of June 15 ($/mt) | Percentage change (%) | ||||
Bid | Bid | Bid | Ask | Bid | Ask | |
Official, cash: | 349.50 | 350.50 | 350.00 | 360.00* | 0.14 | 2.71 |
Official, 3 months: | 380.00 | 390.00 | 400.00 | 415.00 | 5.26 | 6.41 |
Official, 15 months: | 450.00 | 460.00 | 470.00 | 480.00 | 4.44 | 4.35 |
Evaluation closing, cash: | 347.00 | 357.00 | 370.00 | 385.00 | 6.63 | 7.84 |
Evaluation closing, 3 months: | 380.00 | 390.00 | 400.00 | 415.00 | 5.26 | 6.41 |
*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 28,145.00 mt as of June 15, remaining stable compared to the level recorded on June 8.