Today after NY and London holidays on Monday, No.11 opened at 25.38, 1 point above Friday’s settlement (26/05). Market could not keep opening levels for much time and in the first half an hour of trading, went down to 25.19 which ended up being the daily low. Market drafted a recovery at 9h30am however was still trading near the 25.25s at 10am. From this time onwards, market recovered opening levels and tested going further reaching 25.57 near 11 am. Around 12am, market went down to opening levels and near 1pm, bigger volumes pushed market up, when daily high was reached at 25.83. Volatility followed, with some sellers enjoying higher levels when market went down again to the 25.60s. Another push was seen, and prices again touched daily high. From that time onwards, market corrected, and sellers acted. At 2pm, market was trading near 24.40. From 3pm until closing, market traded sideways with some volatility ,settling at 25.33, -0.16% below Friday’s settlement, -0.04 change. NV spread went up 10 points, closing valued at 0.33. The volume traded was bigger today, with 105,582 lots.
After yesterday’s holidays, today Whites Aug’23 opened at $708.4, $0.1/mt below Friday’s settlement. Just after the opening, sellers acted until 9am, when market touched the daily low at $702.30. At that time onwards, market started going up with some power, touching $713 at 11am. Market then traded sideways until 1pm at $711 range. Following No.11, daily high was reached around 1h30pm at $718. Power was then lost as trading session went on, at 3pm, market was trading around $708. Approaching the end of the trading session market went further down with some volatility and settled at 706.8, -1.7 from Friday’s settlement and a -0.24% change from the previous session. Aug’ 23 registered 3.6K lots of volume, and the Q23/V23 spread closed at $10.4.
