In the week ended June 1, price movements switched to an uptrend in the London Metal Exchange (LME) billet market, following seven consecutive weeks of downtrends. The following price movements were recorded in LME billet contract trading as of the end of last week:
As of May 25 ($/mt) | As of June 01 ($/mt) | Percentage change (%) | ||||
Bid | Ask | Bid | Ask | Bid | Ask | |
Official, cash: | 385.00 | 386.00 | 390.00 | 400.00* | 1.3 | 3.6 |
Official, 3 months: | 410.00 | 420.00 | 430.00 | 440.00 | 4.9 | 4.7 |
Official, 15 months: | 470.00 | 480.00 | 500.00 | 510.00 | 6.4 | 6.25 |
Evaluation closing, cash: | 383.50 | 393.50 | 385.00 | 391.00 | 0.4 | -0.64 |
Evaluation closing, 3 months: | 410.00 | 420.00 | 417.00 | 423.00 | 1.7 | 0.7 |
*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 1, remaining stable compared to the level recorded on May 25.