In the week ended April 5, prices indicated another significant decrease in the London Metal Exchange (LME) billet market, after the strong falls recorded in the previous two weeks. The following prices were recorded in LME billet contract trading as of the end of last week:
As of Mar 28 ($/mt) | As of Apr 5 ($/mt) | Percentage change (%) | ||||
Bid | Ask | Bid | Ask | Bid | Ask | |
Official, cash: | 185.00 | 185.00 | 170.00 | 175.00* | -8.1 | -5.4 |
Official, 3 months: | 205.00 | 210.00 | 185.00 | 195.00 | -9.8 | -7.1 |
Official, 15 months: | 260.00 | 270.00 | 245.00 | 255.00 | -5.8 | -5.5 |
*Official cash Ask or Offer price is the settlement price for the cash contract selling in two LME business days' time.
As of April 5, stock billet volumes totaled 81,445.00 mt, decreasing compared to the 83,070.00 mt recorded on March 28.