As the compliance deadline closes in, the total traded volume across China increased by a massive 142.05% from the previous week as a total of 988,687 tons were traded across the pilots.
BEA traded 6-figure volumes for the first time in this year totaling 106,999 tons as the average price broke below the Y50’s convention of BEA. The total weekly volume maintained in 5 figures in SHEA for consecutively 8 weeks. Prices in the HBEA spot deteriorated to Y15s increasing the spot-forward spread to 24%, the highest seen in 13 weeks. Prices in the CQEA crashed as the exchange closed at Y3.00 as it traded a total of 195,631 tons which is an all time high for CQEAs. Fujian & Shenzhen market traded highest volume seen in this year totaling 74,471 tons and 18,072 tons respectively. GDEAs traded in its conventional tight range of Y15.00-Y15.50 and closed at Y15.18 with an average price of Y15.24, maintaining price stability for 2017.
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