In the week ended February 15, rising price movements have been recorded in the London Metal Exchange (LME) billet market, after the generally stable trend observed in the previous week. The following prices were recorded in LME billet contract trading as of the end of last week:
As of Feb 8 ($/mt) | As of Feb 15 ($/mt) | Percentage change (%) | ||||
Bid | Ask | Bid | Ask | Bid | Ask | |
Official, cash: | 260.00 | 270.00 | 265.00 | 275.00* | 1.9 | 1.85 |
Official, 3 months: | 285.00 | 295.00 | 290.00 | 300.00 | 1.75 | 1.7 |
Official, 15 months: | 345.00 | 355.00 | 350.00 | 360.00 | 1.45 | 1.4 |
*Official cash Ask or Offer price is the settlement price for the cash contract selling in two LME business days' time.
As of February 15, stock billet volumes totaled 83,070.00 mt, stable compared to the February 8 level.