In the week ended March 1, prices fell strongly in the London Metal Exchange (LME) billet market, following two weeks of uptrend. The following prices were recorded in LME billet contract trading as of the end of last week:
As of Feb 22 ($/mt) |
As of Mar 1 ($/mt) |
Percentage change (%) |
||||
Bid |
Ask |
Bid |
Ask |
Bid |
Ask |
|
Official, cash: |
265.00 |
275.00 |
230.00 |
250.00* |
-13.2 |
-9.1 |
Official, 3 months: |
300.00 |
310.00 |
250.00 |
270.00 |
-16.7 |
-12.9 |
Official, 15 months: |
360.00 |
370.00 |
320.00 |
300.00 |
-11.1 |
-18.9 |
*Official cash Ask or Offer price is the settlement price for the cash contract selling in two LME business days' time.
As of March 1, stock billet volumes totaled 83,070.00 mt, stable compared to the February 22 level.