In the week ended February 1, a sharp fall was seen in the London Metal Exchange (LME) billet market prices, after the declining price movements which 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 25 ($/mt) | As of Feb 1 ($/mt) | Percentage change (%) | ||||
Bid | Ask | Bid | Ask | Bid | Ask | |
Official, cash: | 280.00 | 290.00 | 260.00 | 261.00* | -7.1 | -10 |
Official, 3 months: | 310.00 | 320.00 | 285.00 | 295.00 | -8.1 | -7.8 |
Official, 15 months: | 370.00 | 380.00 | 350.00 | 360.00 | -5.4 | -5.3 |
*Official cash Ask or Offer price is the settlement price for the cash contract selling in two LME business days' time.
As of February 1, stock billet volumes totaled 83,070.00 mt, stable compared to the January 25 level.