Today No.11 market opened at 23.69, at the same level of Friday’s settlement. In the first half an hour of trading, market lost some power, trading near 23.55 for some time, with low volumes not making considerable changes in the pricing levels. At 11am, a seller led the market to daily low, trading at 23.40 but prices quickly recovered, trading back to the 23.55 zone until 1pm. At that time, buyers started pushing market trying to build some constructive positions. At 2h30 pm, market was trading at 23.95 and sellers did act on these moments also taking advantage of the weak BRL. At 4pm, market was trading near 23.75 and in the next hour, was pushed to reach the daily high valued at 24.03. The last half an hour of trading has dominated by sellers. Market closed at 23.67 (+0.05, 0.21% change), settlement price was 23.74, volume 41.5k lots, and V3H4 spread closed further down, valued at a -0.22.
Today Whites Oct’23 opened at $685.1, $1.1/mt below Friday’s settlement. Just after the opening, market lost considerable power and was trading near $681.0 until 1pm. In the meantime, the daily low was registered at 11am, at $678.1, but market just after went back to trade near the $681s. At 1pm, prices recovered, rising to $684.5. A further strong push was seen when at 2h30pm, market reached its daily high, trading at $690. Sellers then started acting and market went back to $686 and traded sideways until 30 minutes left from the closing. In the last trading minutes, Whites lost power and closed valued at $680.7. Settlement price was $686.2, a -$3.3 change from Friday’s settlement (-0.48% change). Oct’23 registered 6.3K lots of volume, and the V23/Z23 spread closed at $9.6.
