Daily Market Price Updates and Commentary 2nd June 2023

Today No.11 market opened at 24.88, at the same level of yesterday’s settlement. Just after the opening, prices went down to trade near 24.72, 16 points below opening. From that moment until 9h30am, market kept trading this same range until going further down at 10am, touching 24.59. From this time until the end of the day, market oscillated five times with up and downs within the range between 27.77 and 24.57. At 1pm, market touched the top of this interval and daily low was reached at 3h30pm. At 5pm, market was trading near 24.60 and followed an uptrend until the end of the session, closing valued at 24.74. No.11 N3 settled at 24.73, -0.60% below yesterday’s settlement, a -0.15 pts change. NV spread went down more 5 points, closing valued at 0.22. The traded volume was 75k lots.

Today Whites Aug’23 opened at $690.2, $0.1/mt above yesterday’s settlement. Just after the opening, market lost some power and was trading near $689.5. Prices then tried to recover, coming back again to $691.6. Sideways trading was seen until 2pm, when sellers started to push the market down. The daily low was reached at 3h30pm, with Aug’23 valued at $683.8. At that time market, came back to $687.0 zone and traded laterally until closing at $686.3. Settlement price was $686.1, a -$4.0 change from yesterday’s settlement (-0.58% change). Aug’ 23 registered 5.5K lots of volume, and the Q23/V23 spread closed at $7.6.