In the week ended April 19, prices resumed their overall downtrend in the London Metal Exchange (LME) billet market, after the rise observed in the 3-month and 15-month prices in the previous week. Strong falls have been recorded in the market since mid-March. The following prices were recorded in LME billet contract trading as of the end of last week:
As of Apr 12 ($/mt) | As of Apr 19 ($/mt) | Percentage change (%) | ||||
Bid | Ask | Bid | Ask | Bid | Ask | |
Official, cash: | 162.00 | 165.00 | 140.00 | 140.50* | -13.6 | -12.2 |
Official, 3 months: | 190.00 | 200.00 | 160.00 | 170.00 | -15.8 | -15 |
Official, 15 months: | 250.00 | 260.00 | 220.00 | 230.00 | -12 | -11.5 |
*Official cash Ask or Offer price is the settlement price for the cash contract selling in two LME business days' time.
As of April 19, stock billet volumes totaled 77,545.00 mt, decreasing slightly compared to the 77,870.00 mt recorded on April 12.