CCNO offer prices moved up US$ 30-50 last week sparked by rising buying interest, particularly for Dec-Jan coverage. There were a total of 5 trades heard concluded at an average value of US$ 1076/ton. In contrast to CPKO, CCNO traded at around US$ 5 below the asking price. CCNO weekly average prices rose the most in 4 weeks posting US$ 41 gain to US$ 1116/ton to the previous week. The sharper rise in CCNO versus CPKO (US$ 12) magnified the spread by US$ 30 to US$ 326. This makes the CCNO product to trade at 3 years high premium to CPKO. CCNO prices have been rocking up speedily touching US$ 1000/ton on FOB Philippines at the back of supply constraint in the country. Average weekly prices jumped up by US$ 8, third successive weekly rise to US$ 1006/ton. Philippines FOB prices have been above US$ 1000/ton for 7 days since the 8th of Oct. Philippines CNO export is trending 30% lower from Jan-Sept 2020 versus the same time last year, or down about 200,000 tons.
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