The month of April ended on a positive note for the China’s pilots as they traded the second highest volume of the year so far with a total of 1,716,308 tons which is lower by 6.18% from the previous week. Another milestone achieved in April was that the pilots generated the highest turnover of this year so far (Y30 trillion).
BEA prices were pulled below the Y50’s mark and averaged out to a 10-month low of Y46.17. The average monthly price for April also stood at a 12-month low and equated to Y47.97. The total weekly volume maintained in five figures on the SHEAs for a consecutive ten weeks and totalled 39,667 tons; an increase of 120% from the previous week. Prices in the HBEA spot recovered to the Y16’s after two weeks and closed at Y16.29. The HBEA forward prices also went up and averaged out at Y17.74 an increase of 1% from last week’s average. The recuperating prices elevated the spot-forward spread to 3 places and equated to 10%. After seeing a rise in liquidity for two consecutive weeks. SZEA volumes dropped to an unexpected low of meagre 16 tons. GDEA & Fujian traded in their conventional consistent pattern last week while Tianjin remained absent from the market for a consecutive sixth week..
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