Today, No.11 opened with a slight decrease compared to yesterday’s close (-0.06). However, shortly after the opening, the market showed an upward movement in the first few minutes, gaining more than 30 points within the initial 30 minutes, and then stabilizing within the range of 27.30 – 27.45 for the following hours. Around 01:00 pm, the market initiated another upward movement and increased in volatility, with intermittent upward shifts. This led Mar’24 to exceed the 27.50 level and reach a high of 27.57 for the day. However, it retraced almost 40 points in the subsequent hour and remained stable during the last hour, trading between the 27.40 and 27.50 levels. As a result, Mar’24 closed at 27.49, marking an increase of 0.44 cUSD/lb (+1.63%) compared to the previous day’s close. The White premium stood at 132.85, and the H4/K4 spread was at 1.3.
Today, Dec’23 experienced another day of gains, following the trend of the NY#11. It opened at a price of 728.8, marking an increase of 3.8 USD/Mt. Following the opening, the market continued to rise over the next few hours until it reached the 738 level, which provided some support. In the following two hours, the market traded within the 734-738 range but continued to rise in the subsequent hours until it reached the day’s high at 741.50 around 03:30 pm. However, it experienced a decline shortly after and remained stable until the end of the day. The settlement price was 738.9, reflecting a gain of +13.9 from yesterday’s settlement and a +1.92% change from the previous session. Mar’24 recorded a volume of 5k lots, and the Z3/H4 spread closed at +6.8.
