Today No.11 H4 opened at 23c, down 8 points from Friday’s settlement following the weakness whites market presented yesterday. Stronger downward moves were seen in the first half trading hour, when H4 was negotiated at 22.67. Market saw some upside correction to 22.84 and traded sideways until 11h30, time when some recovery took place and market saw trading near opening levels again. The 23c level was not sustained long enough and retraced back to the lows near 22.70. Near 3pm more aggressive selling took place, when the updated daily lows were registered with market trading at 22.49. Some correction followed during the next hour and market traded back again to 22.90 but lost 11 points in the last trading hour closing at 22.79. Settlement price was 22.75, volume traded was 47k lots and H4K4 spread strengthened 5 points, settling at 0.54.
Today whites K4 opened at $630.1, losing $2 compared to yesterday’s settlement. Trading levels were back to $634 after the opening but lacked continuity and market retraced below $630. Afterwards some recovery followed with low trading volumes. At 12h30pm, market traded at $633.3 again, but soon saw not much power to go beyond, signalling some weakness that dominated the afternoon. At 2h30pm market was trading at $628 and further selling led to a way down daily low at $621.8 near 4 pm. Some correction followed in the next hour back to $628 but was not sustained for much time with K4 closing at $625.3. Settlement price was $658.7 down $7.2 from previous settlement. Volume traded was 6.6k lots.
