In the week ended May 17, cash payment prices indicated a significant fall in the London Metal Exchange (LME) billet market, after the strong overall rise recorded in LME billet market prices in the previous week. The following prices were recorded in LME billet contract trading as of the end of last week:
As of May 10 ($/mt) | As of May 17 ($/mt) | Percentage change (%) | ||||
Bid | Ask | Bid | Ask | Bid | Ask | |
Official, cash: | 145.00 | 155.00 | 130.00 | 130.50* | -10.3 | -15.8 |
Official, 3 months: | 165.00 | 175.00 | 160.00 | 180.00 | -3 | 2.9 |
Official, 15 months: | 225.00 | 235.00 | 225.00 | 235.00 | - | - |
*Official cash Ask or Offer price is the settlement price for the cash contract selling in two LME business days' time.
As of May 17, stock billet volumes totaled 76,700.00 mt, decreasing slightly compared to the 77,025.00 mt recorded on May 10.