In the week ended June 8, prices in the London Metal Exchange (LME) billet market fell sharply again. In the previous week, price movements in the LME billet market had switched to an uptrend following seven consecutive weeks of decrease. The following price movements were recorded in LME billet contract trading as of the end of last week:
As of June 01 ($/mt) | As of June 08 ($/mt) | Percentage change (%) | ||||
Bid | Bid | Bid | Ask | Bid | Ask | |
Official, cash: | 390.00 | 400.00 | 349.50 | 350.50* | -10.4 | -12.4 |
Official, 3 months: | 430.00 | 440.00 | 380.00 | 390.00 | -11.6 | -11.4 |
Official, 15 months: | 500.00 | 510.00 | 450.00 | 460.00 | -10 | -9.8 |
Evaluation closing, cash: | 385.00 | 391.00 | 347.00 | 357.00 | -9.9 | -8.7 |
Evaluation closing, 3 months: | 417.00 | 423.00 | 380.00 | 390.00 | -8.9 | -7.8 |
*Official cash Ask or Offer price is the settlement price for the cash contract selling in two LME business days' time.
Stock billet volumes totaled 28,145.00 mt as of June 8, remaining stable compared to the level recorded on June 1.