GDT held their 23th Pulse Auction today. Highlights include:
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C2 (July ’23) Regular WMP – $3,150/MT, DOWN 1.4% or -$45/MT vs. last week’s GDT Auction on 16 May.
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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).
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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.
