In the week ended September 7, downtrends dominated the London Metal Exchange (LME) billet market for the third consecutive week. The following price movements were recorded in LME billet contract trading as of the end of last week:
As of August 31 ($/mt) |
As of Sep 07 ($/mt) |
Percentage change (%) |
||||
Bid |
Ask |
Bid |
Ask |
Bid |
Ask |
|
Official, cash: |
340.00 |
342.00 |
320.00 |
325.00* |
-5.9 |
-5 |
Official, 3 months: |
355.00 |
365.00 |
335.00 |
345.00 |
-5.6 |
-5.5 |
Official, 15 months: |
415.00 |
425.00 |
395.00 |
405.00 |
-4.8 |
-4.7 |
Evaluation closing, cash: |
340.00 |
350.00 |
320.00 |
330.00 |
-5.9 |
-5.7 |
Evaluation closing, 3 months: |
355.00 |
365.00 |
335.00 |
345.00 |
-5.6 |
-5.5 |
*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 50,115.00 mt as of September 7, decreasing from 50,570.00 mt recorded on August 31.