The following price movements were recorded on the LME billet contract trading as of end last week. Deutsche Bank-Stemcor report evaluates the outlook weak.
As of January 14 |
As of January 21 |
Weekly Change % |
||||
Bid |
Ask |
Bid |
Ask |
Bid |
Ask |
|
Official cash: |
550.00 |
551.00 |
552.50 |
552.50 |
0,45 |
0.36 |
Official 3 months: |
575.00 |
585.00 |
574.50 |
574.50 |
-0,09 |
-1.71 |
Official 15 months: |
645.00 |
655.00 |
635.00 |
635.00 |
-1,55 |
-1.52 |
Evaluation closing cash: |
550.00 |
551.00 |
552.50 |
552.50 |
0,45 |
0.36 |
Evaluation closing 3 months: |
575.00 |
585.00 |
574.50 |
574.50 |
-0,09 |
-1.71 |
Stock volumes decreased by 1,15 percent and dropped to 55835 level as of January 21.
According to the Deutsche Bank-Stemcor report the LME 3 month billet contract opened at $565.5 by the end of the week and last traded on Tuesday at $565. According to the report, the market is now expected to be supported in the above $565 range.
DB Price Outlook for Billet prices for the LME are as follows as of January 25, 2011:
Latest |
Last Week Average |
Last Month Average |
Outlook |
|
LME Billet Cash |
$560/mt |
$565/mt (-%1) |
$525/mt (%-6) |
Weak |
LME Billet 3-Months |
$580/mt |
574$/mt (-%1) |
$543/mt (%-6) |
Weak* |
* Comment: Prices are expected to be supported above $565/mt$