In the week ended October 5, price movements switched to a downtrend in the London Metal Exchange (LME) billet market, after two months of rising prices. The following price movements were recorded in LME billet contract trading as of the end of last week:
*Official cash Ask or Offer price is the settlement price for the cash contract selling in two LME business days' time.
As of Sep 28 ($/mt) | As of Oct 5 ($/mt) | Percentage change (%) | ||||
Bid | Ask | Bid | Ask | Bid | Ask | |
Official, cash: | 350.00 | 360.00 | 340.00 | 350.00* | -2.9 | -2.8 |
Official, 3 months: | 360.00 | 370.00 | 350.00 | 360.00 | -2.8 | -2.7 |
Official, 15 months: | 420.00 | 430.00 | 410.00 | 420.00 | -2.4 | -2.3 |
Stock billet volumes totaled 52,650.00 mt as of October 5, increasing compared to 49,855.00 mt recorded on September 28.