The Chinese pilots traded the highest volume of the year with a total of 1,829,299 tons contracted across seven pilots (two remain dormant). This total traded volume doubled from the previous week and increased by almost 85%.
BEA traded 88,462 tons losing 17.32% on the previous week. The exchange closed at Y49.16 which is below the Y50’s convention of BEA. The total weekly volume maintained in 5 figures on the SHEAs for a consecutive nine weeks. Prices in both the HBEA spot and forward falls down which causes the spot forward spread to reduce to an all time low of 7%. Prices in the CQEA crashed to a record breaking lowest in China’s ETS as it closes at Y1.58. Apparently, this also brought huge liquidity to the market as 385,241 tons traded last week. GDEA traded a 12 week highest volume of 757,433 tons and closes at Y14.12. While pilots like Fujian, Shenzhen & Tianjin followed their conventional trading pattern and remained unnoticed.
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