Daily Market Price Updates and Commentary 9th June 2026

There was some buying around through the early part of the session as small traders combined with overnight hedge lifting, however Jul’26 did not trade beyond 14.23 and once the interest cooled prices quickly slipped back. Buying was then restricted to pricing scales from manufacturers and so trading settled down to hold a narrow band ahead of 14.00, playing the lower end of the current trading band and representing the lowest levels seen so far this month. By late morning we saw a 14.04 low, and while some small trader covering followed it could not inspire any fresh interest and the flat price continued at the lower end. Spreads continue to provide the bulk of traded volume and Jul/Oct’26 saw another morning move up to -0.42 points on trade interest before stumbling when the heavier index rolling arrived from the US. With a couple of hours of trading remaining the market was pushed down to new lows and 14.00 came under scrutiny, eventually giving way with a session low registered at 13.97. This took a good deal of effort from smaller traders and the resulting position covering over the final stages meant a settlement nearer the centre of the range at 14.08 which relieved some pressure. Jul/Oct’26 settled at 0.44 points following another strong roll volume which again topped 100,000 lots.      

Prices swung around initially and Aug’25 worked between $441.80 and $446.40 across the first 20 minutes before pulling back to the lower end of this band. Volumes soon fell away and a generally slow morning was characterised by spec selling into consumer buying that widened the range at the lower end, with Aug’26 falling to $439.60 though never appearing likely to fall in a significant way. Specs took some cover when it became apparent that the scale buying would continue providing a supportive base, and the afternoon continued quietly with prices treading along within the range. A moderate spread volume did enable Aug/Oct’26 to regain some lost ground and move back up to $6.30, while the premiums were also firming up as No.11 came under some pressure later in the session while whites continued steadily along in the centre of the range. All remained quiet until the final 30 minutes when buying arrived to erase the losses and ensure that the day ended with another neutral close. Aug’26 settled at $445.00, Aug/Oct’26 at $5.70 and Aug/Jul’26 was valued at $134.60.