The first week of May saw 2,993,675 tons traded across the 8 pilots, gaining 74% on the previous week. CQEAs registered their highest weekly volume of 2,120,617 tons while also posting the lowest prices averaging to Y1.17. BEA prices recuperated to the Y50’s mark and averaged out to Y50.79, higher by `10% from the week before. The total weekly volume maintained in five figures on the SHEAs for a consecutive 11 weeks and totaled 28,550 tons Prices in the HBEA spot maintained in the Y16’s for a second week and closed at Y16.20. The HBEA forward prices pushed up to Y18’s after two weeks and went up by 3% week-on-week. The recuperating prices elevated the spot-forward spread to two places and equaled 12%. SZEA gained volumes and traded 2,558 tons, 160 folds higher than the week before. GDEA & Fujian traded along their conventional lines last week while Tianjin remained absent from the market for a consecutive seventh week.
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