GDT held their 24th Pulse Auction today. Highlights include:
- C2 (July ’23) Regular WMP – $3,100/MT, DOWN 1.6% or -$50/MT vs. last week’s GDT Pulse on 23 May.
- 1000MT or 100% of the total 1,000MT on offer was sold. Out of 28 participating bidders (-1 bidders vs. prior Pulse), there were 18 winning bidders (-5 vs. prior Pulse) over 7 bidding rounds (No Change from prior Pulse).
- With ample supplies outpacing weak global demand, there is little challenge for buyers to procure product resulting in further WMP price declines, DOWN $95/MT (-3.0%) from the last GDT Event on 16 May.
