GDT held their 21th Pulse Auction today. Highlights include:
- C2 (June ’23) Regular WMP – $3,105/MT, UP 1.6% or +$50/MT vs. last week’s GDT Auction on 18 April.
- 998MT or 99.8% of the total 1,000MT on offer was sold. Out of 31 participating bidders (+3 bidders vs. prior Pulse), there were 15 winning bidders (-1 vs. prior Pulse) over 13 bidding rounds (+5 from prior Pulse).
- After sixth consecutive negative Pulse auction, WMP prices moved upwards following last week’s GDT event. While buyers find value at these low prices compared to previous months, there remains a lack of significant demand in the global market suggesting this may be more of a temporary bounce than a lasting positive correction in the market.