The London Metal Exchange (LME) announced Friday that LME Steel Billet traded 209,229 lots up to the end of November 2011, equivalent to 13.6 million metric tons (mt) or $7.7 billion--an increase of 30.4 percent from the same period last year.
Additionally, LME Steel Billet listed six new brands in 2011 from the USA, Vietnam and the Ukraine, with a total of 52 brands listed from 18 countries. There are now 12 locations listed for good delivery in nine countries. Charleston, South Carolina in the US is scheduled to be listed early next year.
The LME's US storage facilities received their first delivery of billet in January, and have since seen a total stock turnover of more than 70,000 mt. Global stock turnover of LME Steel Billet in 2011 has reached nearly 200,000 mt to date, with 105,755 mt delivered in and 93,755 delivered out.