Daily Market Price Updates and Commentary 10th July 2026

No.11 opened the session at 15.14 c/lb, which also marked the day’s high, but early selling pressure quickly emerged and weighed on prices throughout the morning. The market drifted steadily lower, with only brief periods of consolidation, before selling accelerated during the afternoon and pushed prices to the session low of 14.71 c/lb. After testing these lows, the market recovered part of its losses and traded in a more stable range into the close, potentially supported by potential short covering after the sharp decline. Despite the late rebound, No.11 finished the session at 14.86 c/lb, down 28 points from the open, reflecting a session that remained largely dominated by sustained selling pressure.

No.5 opened the session at $475.70/mt, which also marked the day’s high, but selling pressure emerged almost immediately and weighed on prices throughout the morning. The market gradually trended lower before losses accelerated during the afternoon, pushing No.5 to the session low of $462.20/mt as bearish sentiment intensified. Following the sharp decline, the market recovered a portion of its losses into the close, potentially supported by short covering, although prices remained well below the opening levels. No.5 ultimately settled at $467.50/mt, down $8.20/mt on the day, reflecting a session that was largely dominated by sustained selling pressure despite the modest late recovery.