During the week ended August 2, prices resumed their decreasing trend in the London Metal Exchange (LME) billet market, following just one week of upward movement. The following prices were recorded in LME billet contract trading as of the end of last week:
As of July 26 ($/mt) | As of Aug 2 ($/mt) | Percentage change (%) | ||||
Bid | Ask | Bid | Ask | Bid | Ask | |
Official, cash: | 125.00 | 135.00 | 115.00 | 125.00* | -8 | -7.4 |
Official, 3 months: | 155.00 | 165.00 | 145.00 | 155.00 | -6.45 | -6.1 |
Official, 15 months: | 215.00 | 225.00 | 210.00 | 220.00 | -2.3 | -2.2 |
*Official cash Ask or Offer price is the settlement price for the cash contract selling in two LME business days' time.
As of August 2, stock billet volumes totaled 48,035.00 mt, decreasing from 58,240.00 mt recorded on July 26.