Today No.11 opened at 27.56, +7 points above yesterday’s settlement. Around 9 am, market went up a bit further reaching 27.62 and saw some seller that made the market come back to trade around 27.44 for the next hour. From 10 am onwards, market saw bigger volumes starting to push it up. It was by 11 am, when daily high was reached with market trading at 27.67. Some correction took place in the two next trading hours, coming back to 27.45s. Another bullish movement attempt was then seen and around 2pm, the biggest liquidation of the day occurred with considerable volume and led market to trade at the daily low around 3h30 pm, trading at 27.17. In the last trading hour of the session, buyers pushed the market to 27.59, but it quicky saw some liquidation in the last minutes and closed valued at 27.41. Settlement price was 27.48, -1 point below yesterday’s settlement. Volume traded was 50k lots and H4K4 spread rose one point, settling at 1.31.
Today, Dec’23 experienced another day of gains. It opened at a price of $740, marking an increase of $1.1 USD/Mt compared to yesterday’s settlement. Following the opening, the market continued to rise over the next 30 minutes until it reached the $744.50 level, but it retraced shortly after to levels just above $740. Only around 10h30 am did the market resume its upward movement, leading to a new peak above $745, where it remained for several minutes. It experienced another rise around 1h30 pm, surpassing the $748 level, but then had a significant correction in the following minutes, causing Dec’23 to fall below $740. It did recover slightly before the market closed making the settlement price to close at $741.8, marking an increase of +$2.9 from yesterday’s settlement and a +0.39% change from the previous session. Mar’24 recorded a volume of 8k lots, and the Z3/H4 spread closed at +$7.9.
