No.11 market opened at 17.72, one point above yesterday’s settlement. Prices remained stable near the opening but just after 9am, started to fall, staying between the 17.65-17.68 range from 10am until 12. Around 12h30 another downward trend brought market to trade at 17.61. At 2pm, there was a price recovery attempt but Mar’23 remained under pressure, it hit 17.68 but not for long after, started to go down again. From 2h30pm to 4pm, market went from 17.66 to 17.55 (daily low). Market traded sideways from 4pm to 5pm when it saw more strength, recovering and closing at 17.63, marking the 11th day of consecutive lows. Settlement price was 17.58, a -0.13 change from yesterday, a -0.73% change. Volume traded was 65k lots and H3K3 spread closed at 0.93.
Whites Mar’23 opened at 486.8, 1.1 USD stronger than yesterday’s settlement. The upward opening was not enough to keep market trading high, just after the opening, prices tested the 484 zone and from 9am to 2 pm, traded sideways between the 485 – 486 range. Around 2pm, sellers started to act, bringing market down to 484.6 at 4 pm. The next hour was marked by prices trading around 484.3, when coming to the end of the trading session, more volatility was seen, the daily low was registered at 483.5 at 5h15pm. In the last 45 minutes of the session, it recovered from losses and marked closed at 485.4. Settlement price was 484.5, 1.1 USD below yesterday’s settlement, representing a -0.31 % change. H3K3 spread closed at 8 USD/Mt and HH white premium closed valued at 96.73 USD/Mt.
