GDT held their 17th Pulse Auction today. Highlights include:
- C2 (Apr ’23) Regular WMP – $3,210/MT, DOWN 0.9% or -$30/MT vs. last week’s GDT Auction on 21 February.
- Despite indication from SGX traders that March WMP settlements should tick higher, last settling at $3,350/MT overnight, the GDT Pulse event reflected a $30/MT drop from the prior February auction and was a $58/MT drop (-1.8%) from the SGX February ’23 futures settlement of $3,268/MT.
- 1,000MT or 100% of the total 1,000MT on offer was sold. Out of 29 participating bidders (DOWN 3 bidders vs. prior Pulse), there were 15 winning bidders (-7 vs. prior Pulse) over 6 bidding rounds (+1 rounds from prior Pulse).