Today No.11 opened at 27.05, the same level of yesterday’s settlement. During the first half hour of trading, market touched the daily high at 27.18 and from that point onwards just saw weakness. At 10 am, market was trading back into the opening levels, around 11 am, at 26.95. Small volumes kept steadily moving market down until 2h30 pm, when market was trading at 26.85. At that point, bigger seller led to further liquidation, and market was negotiating at 26.65 around 3 pm. The next 2 hours of trading repeated the same early morning dynamic however with some more volume, market going to 26.55. In the end of the session, another big liquidation took place and sellers these lead market to close at daily low, value at 26.31. Settlement price was 26.40, volume traded was 53k lots and H3K3 spread closed valued at 1.19, down 0.05.
Today the Dec’23 contract opened at a price of $720.8, reflecting a modest uptick in comparison to the closing figure of $719.7 recorded on the prior trading day. The market started on a liquidity note in the opening with some volume being trade in the first 30 minutes keeping the market above yesterday settlement, however the low volume in next hours led the market to decay slowly, even below the last settlement. Around 2h30 pm the market felt from $720 to $714 in 30 minutes, after this, whites kept falling slowly over the next few hours with a downward spike in the last 15 min, leading to a settlement at $709.3, -$10.4 from yesterday’s settlement resulting in a -1.45% change from the previous session. Dec’ 23 registered 5K lots of volume, and the Z23/H24 spread closed at +1.9
