In the week ended May 10, prices rose strongly in the London Metal Exchange (LME) billet market, after the downtrend recorded in the previous week. Previously, strong declines had been recorded in the market. The following prices were recorded in LME billet contract trading as of the end of last week:
As of May 3 ($/mt) | As of May 10 ($/mt) | Percentage change (%) | ||||
Bid | Ask | Bid | Ask | Bid | Ask | |
Official, cash: | 130.00 | 140.00 | 145.00 | 155.00* | 11.5 | 10.7 |
Official, 3 months: | 150.00 | 160.00 | 165.00 | 175.00 | 10 | 9.4 |
Official, 15 months: | 210.00 | 220.00 | 225.00 | 235.00 | 7.1 | 6.8 |
*Official cash Ask or Offer price is the settlement price for the cash contract selling in two LME business days' time.
As of May 10, stock billet volumes totaled 77,025.00 mt, decreasing slightly compared to the 77,350.00 mt recorded on May 3.