CCNO cif Rotterdam: Sustained rise in offers despite absence of trades | CCNO Rotterdam 15 19 Jan

 

Offer prices rose for the second week gaining $20-45 across the delivery months after locking in a $15-35 rise in the prior week but there were still no trades heard. Offers tested a new support level of $1200/mt for Jul-Aug delivery onwards after hovering above $1160/mt a week ago. CCNO offers have been broadly above $1100/mt since Oct despite the lack of buying activity and continue to show stamina for higher prices. CCNO’s weekly average price was up for the second week inching  $13 higher from a week ago to an average of $1132/mt on a spot spot-month basis.