The Brazilian crystal has not been very volatile the last few sessions, resulting in unchanged premiums. The spot shipment is BID V+89/90$ and OFFER V+94/95. The Q4 also is sitting at the same range as last week with OCT-DEC BID V+90/91 OFFER high 90s. The spreads for CNF quotes for West Africa remained wide for main destinations with OFFERs from V+228/30 over NY OCT and BIDs at +215.
Source: 150s Santos data section on thedeepcore.com
The refined FOB Santos started picking up some demand intertrade but the gap between buyers and sellers remains wide: FOB values for SEP or SEP/OCT shipments are shown in the range BID LDN V+20/25$, and the OFFER distant at LDN V+39/40, quite a gap to squeeze!
In Thai HPOL market, there was a release of B Quota under which a total of 72Kmt was awarded to two trade houses, 36Kmt each, for JULY-SEP shipment.
Intertrade activity for High Pol JUL/SEPT is BID at NY N+135 for std terms and +10 pts more for deep sea basis, and way higher, Offers at 160pts over. Most liquidity found was for Q1 and HK15 shipments. The BID level for JAN-FEB was 98 pts over NY March as opposed to 120 pts OFFER for the deep sea port (standard terms is BID 90 Vs 110 OFFER). MAR-MAY on the other hand found its bid at +85 with Offers at 105 pts over NY H23.
Indian bulk raws on the other hand, for spot shipment, are Offered around +200/210 over NY V22 with NO BIDs. More forward shipments, DEC/JAN, OFFERs in the triple digits – starting at +100 to +110 level and BIDS on the other hand, with a recent small rally on the NY, dipped a little to find a temporary spot at +60/65 but only to come back at its initial level of +70/75 over NY H22.
On the Indian whites, from West Coast, we have generic refined available at around +22 from JNPT and +40 for a more acceptable brand from Mundra. LQWs are definitely not easy to find but whatsoever is available is being OFFERED quite rich at $550/60, FOB buyers refuse on bidding against such a value but will be keen on initiating a discussion around $500-510
Source: World refined data section on thedeepcore.com
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