In the week ended November 16, prices continued to fall in the London Metal Exchange (LME) billet market, following the week-on-week decreases observed in the previous two weeks. The following prices were recorded in LME billet contract trading as of the end of last week:
As of Nov 9 ($/mt) |
As of Nov 16 ($/mt) |
Percentage change (%) |
||||
Bid |
Ask |
Bid |
Ask |
Bid |
Ask |
|
Official, cash: |
315.00 |
315.00 |
229.50 |
300.50* |
-27.1 |
-4.6 |
Official, 3 months: |
340.00 |
345.00 |
325.00 |
330.00 |
-4.4 |
-4.3 |
Official, 15 months: |
400.00 |
410.00 |
385.00 |
395.00 |
-3.75 |
-3.6 |
*Official cash Ask or Offer price is the settlement price for the cash contract selling in two LME business days' time.
Stock billet volumes decreased to 88,270.00 mt as of November 16, compared to 95,485.00 mt recorded on November 9.