During the week ended July 26, price movements switched to an uptrend in London Metal Exchange (LME) billet market prices, following declines in the previous two weeks. The following prices were recorded in LME billet contract trading as of the end of last week:
As of July 19 ($/mt) | As of July 26 ($/mt) | Percentage change (%) | ||||
Bid | Ask | Bid | Ask | Bid | Ask | |
Official, cash: | 115.00 | 125.00 | 125.00 | 135.00* | 8.7 | 8 |
Official, 3 months: | 140.00 | 150.00 | 155.00 | 165.00 | 10.7 | 10 |
Official, 15 months: | 200.00 | 210.00 | 215.00 | 225.00 | 7.5 | 7.1 |
*Official cash Ask or Offer price is the settlement price for the cash contract selling in two LME business days' time.
As of July 26, stock billet volumes totaled 58,240.00 mt, decreasing from 67,275.00 mt recorded on July 19.