In the week ended February 8, greater stability has been observed in price movements in the London Metal Exchange (LME) billet market, after the sharp declines recorded in the previous week. The following prices were recorded in LME billet contract trading as of the end of last week:
As of Feb 1 ($/mt) | As of Feb 8 ($/mt) | Percentage change (%) | ||||
Bid | Ask | Bid | Ask | Bid | Ask | |
Official, cash: | 260.00 | 261.00 | 260.00 | 270.00* | - | 3.4 |
Official, 3 months: | 285.00 | 295.00 | 285.00 | 295.00 | - | - |
Official, 15 months: | 350.00 | 360.00 | 345.00 | 355.00 | -1.4 | -1.4 |
*Official cash Ask or Offer price is the settlement price for the cash contract selling in two LME business days' time.
As of February 8, stock billet volumes totaled 83,070.00 mt, stable compared to the February 1 level.