In the week ended May 24, the London Metal Exchange (LME) billet market indicated a significant overall decline, after the strong fall seen only in cash payment prices in the LME billet market in the previous week. The following prices were recorded in LME billet contract trading as of the end of last week:
As of May 17 ($/mt) |
As of May 24 ($/mt) |
Percentage change (%) |
||||
Bid |
Ask |
Bid |
Ask |
Bid |
Ask |
|
Official, cash: |
130.00 |
130.50 |
125.00 |
130.00* |
-3.8 |
-5.5 |
Official, 3 months: |
160.00 |
180.00 |
150.00 |
170.00 |
-6.25 |
-4.25 |
Official, 15 months: |
225.00 |
235.00 |
215.00 |
225.00 |
-4.4 |
-0.4 |
*Official cash Ask or Offer price is the settlement price for the cash contract selling in two LME business days' time.
As of May 24, stock billet volumes totaled 76,700.00 mt, stable compared to level recorded on May 17.