GDT held their thirteenth Pulse Auction today. Highlights from the auction include:
- C2 (Mar ’23) Regular WMP – $3,170/MT, NO CHANGE vs. last week’s GDT Event on 3 January.
- 1,000MT was sold of a total of 1,000MT on offer (100%). Out of 33 participating bidders (UP 5 bidders vs. prior Pulse), there were 15 winners (UP 1 vs. prior Pulse) over 13 bidding rounds (UP 4 from prior Pulse).
- C2 Regular WMP price remained unchanged this Pulse auction from the previous GDT event held on 3 January despite an increase in bidder attendance. WMP inventories in China are speculated to be replete providing ample supply for domestic demand. With little competitive buying interest from the country there is plenty of room for other regions to procure product at these low prices.