During the week ended November 8, prices started to decrease in the London Metal Exchange (LME) billet market, after the upward movement recorded in previous weeks. The following prices were recorded in LME billet contract trading as of the end of last week:
| As of Nov. 1 ($/mt) | As of Nov. 8 ($/mt) | Percentage change (%) | |||
| Bid | Ask | Bid | Ask | Bid | Ask |
Official, cash: | 235.00 | 245.00* | 230.00 | 235.00* | -2.1 | -4 |
Official, 3 months: | 240.00 | 250.00 | 240.00 | 245.00 | - | -2 |
Official, 15 months: | 305.00 | 315.00 | 300.00 | 310.00 | -1.6 | -1.6 |
*Official cash Ask or Offer price is the
settlement price for the cash contract selling in two LME business days'
time.
As of November 8, stock billet volumes totaled 17,875 mt, remaining unchanged
compared to November 1.