In the week ended May 25, downtrends dominated the London Metal Exchange (LME) billet market for the seventh consecutive week. The following price movements were recorded in LME billet contract trading as of the end of last week:
As of May 18 ($/mt) | As of May 25 ($/mt) | Percentage change (%) | ||||
Bid | Ask | Bid | Ask | Bid | Ask | |
Official, cash: | 429.00 | 431.00 | 385.00 | 386.00* | -10.26 | -10.44 |
Official, 3 months: | 440.00 | 450.00 | 410.00 | 420.00 | -6.82 | -6.67 |
Official, 15 months: | 500.00 | 510.00 | 470.00 | 480.00 | -6 | -5.88 |
Evaluation closing, cash: | 420.00 | 430.00 | 383.50 | 393.50 | -8.69 | -8.49 |
Evaluation closing, 3 months: | 440.00 | 450.00 | 410.00 | 420.00 | -6.82 | -6.67 |
*Official cash Ask or Offer price is the settlement price for the cash contract selling in two LME business days' time.
Stock billet volumes totaled 28,145.00 mt as of May 25, remaining stable compared to the level recorded on May 18.