Today, the No.11 market opened at 23.56, 5 points lower than the previous day’s settlement. The market had a late opening at 12:30, and in the first few minutes, it experienced an upward movement driven by the buyers’ pressure, which was further supported by some volume spikes after the opening. As a result, May’23 rose by 26 points in the first 30 minutes, reaching its highest value of the day at 23.82. However, the market soon experienced a correction, and within the next 20 minutes, it dropped by 35 points, resulting in a highly volatile first hour of trading. Throughout the next few hours, the market recovered slightly and remained within the 23.55 – 23.80 range. In the final hour, the market followed a downward trend, causing it to drop below 23.50. However, in the last ten minutes, it recovered slightly, leading to May’23 closing at 20.56, a decrease of 0.05 from Thursday’s settlement and a 0.24% change from the previous session. May 23 registered a volume of 108K lots, and the K23/N23 spread closed at +0.49.
London No.5 sugar market closed due to the Good Friday holiday.
