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LME steel billet three-month prices rise $5 on increased scrap prices

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Prices of concluded trades for London Metal Exchange steel billet rose by $5 per tonne on Thursday April 5 on rising scrap prices.

The LME three-month bid/offer spread was $500/520 per tonne on Thursday, compared with $505/515 per tonne on Wednesday

Thursday’s cash contract’s official bid/offer spread was $485/505 per tonne on Thursday, compared with $485/495 on Wednesday.

No trades were recorded on the three-month and cash contract, according to MB Connect.

On April 4 a total of 714 lots were traded, down from 424 lots on April 3 and 490 lots on April 2., according to LME data.

In March this year the contract traded 10,934 lots, compared with 13,137 lots traded in February.

Ferrous scrap prices for mixed HMS 1&2 (80:20) rose to $453 per tonne cfr Turkey this week, up from $445 previously, according to Turkish market sources. 

Stacy Irish
sirish@metalbulletin.com
Twitter: @stacyirish_mb

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