The volume traded for the Memo Futures Contract at the London Metal Exchange, which was completed based on an assessment by the platts, part of the S&P Global Commodity Insights, fell week to week.
LME Futures weekly futures trading volume in a week to 6 February fell to 88,530 MT from 124,610 MT in the previous week.
Platts assess the price of spots for physical imports of Turkey Premium premium Memo weight 1/2 (80:20) at $ 354/MT CFR 6 February, up $ 5/MT week over week from 30 January.
The March-April part of the front curve for Turkey Memos in LME sharpens the contango structure for a week, shows that the futures traders expect Türkiye’s memo prices in the physical market to increase in the medium term.
Slip Royal Futures Volume
The repiebing volume traded on LME declined for a week to 6 February, while platts considered the rebot that Türkiye was exported by $ 560/MT FOB on February 6, stable this week.
Sentiment remains careful because Turkey Mills increases supply in response to the increase in order books, but external pressure from strong US dollars to Euros and the dynamics of uncertain demand in Europe directs expectations for sustainable increase trends.
The volume of weekly weekly term trading slipped to 3,090 MT a week to February 6, down from 3,360 MT in the previous week.
The February-April section of the front curve for Turkey Redbar Futures in LME maintains the contango structure, showing that the futures traders expect Turkey’s reward prices in the physical market to pursue the increase trend in the near future.
Source: Platts
