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.