Today, No.11 opened at the same level as yesterday’s settlement. During the first half-hour of trading, the market experienced a downward movement, reaching the day’s low at 26.25 after 18 minutes. Over the next two hours, the market gradually started to rise, surpassing the opening prices and the 26.60 level in the morning. In the afternoon, there was slightly more volume traded, and the market exhibited both upward and downward movements, reaching its high at 26.75 around 3:30 pm. However, that level wasn’t support until the end of the session and dropped, leading the contract to close near the previous day’s settlement, valued at 26.35. This represented a decrease of -0.05 USD/Mt (-0.19%) compared to the previous day’s settlement price, with the White premium at 130.28 and the Mar ’24/May ’24 spread at 1.15.
Today, the Dec ’23 contract opened at a price of 707.70, reflecting a modest decline compared to the closing figure of 709.3 recorded yesterday. Despite the initial drop, the market showed strength, leading prices upward and maintaining an upward trend for the following hours with Dec ’23 reaching 717 around 10:45 am, with a good volume traded between 10:20 am and 11:00 am. Over the next few hours, the market remained stable within the 712-716 range, with a lack of volume between 11:30 am and 1:00 pm. In the afternoon, the market resumed its upward movement, surpassing the $719 level and reaching a high of 719.10. However, it subsequently was corrected, ending the session valued at 711.2, which is an increase of +1.9 from yesterday’s settlement and a +0.27% change from the previous session. Dec ’23 registered a volume of 4k lots, and the Z23/H24 spread closed at +3.4.
