In the week ended March 22, prices decreased strongly in the London Metal Exchange (LME) billet market, after the uptrend recorded in the previous week which had followed two weeks of downward movement. The following prices were recorded in LME billet contract trading as of the end of last week:
As of Mar 15 ($/mt) | As of Mar 22 ($/mt) | Percentage change (%) | ||||
Bid | Ask | Bid | Ask | Bid | Ask | |
Official, cash: | 230.00 | 250.00 | 200.00 | 210.00* | -13 | -16 |
Official, 3 months: | 250.00 | 270.00 | 215.00 | 220.00 | -14 | -18.5 |
Official, 15 months: | 315.00 | 325.00 | 270.00 | 280.00 | -14.3 | -13.8 |
*Official cash Ask or Offer price is the settlement price for the cash contract selling in two LME business days' time.
As of March 22, stock billet volumes totaled 83,070.00 mt, stable compared to the March 15 level.