GDT held their 23th Pulse Auction today. Highlights include:
C2 (July ’23) Regular WMP – $3,150/MT, DOWN 1.4% or -$45/MT vs. last week’s GDT Auction on 16 May.
1,000MT or 100% of the total 1,000MT on offer was sold. Out of 29 participating bidders (-1 bidders vs. prior Pulse), there were 23 winning bidders (+8 vs. prior Pulse) over 7 bidding rounds (-3 from prior Pulse).
WMP prices dipped again after edging upwards at the previous GDT Auction. Demand remains volatile but has yet to overcome abundant stocks to push prices higher, keeping WMP C2 within a $3,100 – $3,200/MT range for the past five weeks.