Today No.11 market opened at 25.30, 3 points below yesterday’s settlement. Market went down in the first half an hour of trading, touching 25.02, which happened to be the daily low. From 9am to 11h30am, market kept going sideways around the 25.09 level. At 11h45 am, bigger volumes pushed the market 10 points up and volatility followed, with market operating between the 25.08-25.28 range until 2pm when even bigger buying volumes strongly pushed the market from 25.07 to 25.44 at 2h30pm, when the daily high was recorded. Sellers enjoyed this opportunity and brought market trading levels down until closing, when market again touched the daily low. No.11 N3 settled at 25.06, -1.07% below yesterday’s settlement, -0.27 change. NV spread went down 1 point, closing valued at 0.32. The traded volume was 65k lots.
Today Whites Aug’23 opened at $703.3, $3.5/mt below yesterday’s settlement. Just after the opening, following No.11, market went down and was trading near $697.50. At that time onwards, market tried to recover testing $703.5 levels but ended up trading sideways with some volatility from 9h30am to until 2pm. Another push was seen at that time and buyers pushed the market to daily high, valued at $705.5. From 2h30pm onwards, market just kept its way down in a weak day for commodities and considerable risk aversion, closing at $695.1 (daily low). Settlement price was $696.1, $-10.7 change from yesterday’s settlement (-1.51% change). Aug’ 23 registered 5.5K lots of volume, and the Q23/V23 spread closed at $9.6.
