Strong rise in LME billet market prices

Monday, 19 August 2013 11:09:59 (GMT+3)   |   Istanbul
       

During the week ended August 16, prices recorded a strong rise in the London Metal Exchange (LME) billet market, following the varied price movements observed in the previous week. The following prices were recorded in LME billet contract trading as of the end of last week:

 

As of Aug 9 ($/mt)

As of Aug 16 ($/mt)

Percentage change (%)

Bid

Ask

Bid

Ask

Bid

Ask

Official, cash:

120.00

130.00

140.00

150.00*

16.6

15.4

Official, 3 months:

145.00

155.00

160.00

170.00

10.3

9.7

Official, 15 months:

205.00

215.00

220.00

230.00

7.3

7

*Official cash Ask or Offer price is the settlement price for the cash contract selling in two LME business days' time.
 
As of August 16, stock billet volumes totaled 38,935.00 mt, decreasing from 39,130.00 mt recorded on August 9.


Similar articles

Global View on Billet: Uptrend fails to materialize after holiday, trading limited by lower bids

10 May | Longs and Billet

SE Asian buyers await lower billet prices amid softening sentiments

09 May | Longs and Billet

Turkey’s billet imports down by 24.1 percent in January-March

09 May | Steel News

Ex-India billet offer volumes on the rise despite surging local prices

08 May | Longs and Billet

Ex-Black Sea billet sold at lower prices to Turkey, Asian prices still unworkable

08 May | Longs and Billet

Turkey-based IDC reports lower net profit and revenues for 2023

07 May | Steel News

India’s RINL floats second export tender for 30,000 mt of billet for end-June shipment

07 May | Longs and Billet

Ex-ASEAN mills hold prices as gains in China not sufficient to provide solid support

07 May | Longs and Billet

India’s RINL floats another export tender for 30,000 mt of billet

06 May | Longs and Billet

Global View on Billet: Stability spreads across markets, cautious optimism for post-holiday period

03 May | Longs and Billet