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QSL Market Update

Tuesday, 12 June 2018

It was a volatile week, with futures closing down 0.27 points and an uncertain picture for the FX.

Risk appetite remains fragile after Trump’s talks with the G7 and North Korea’s Kim Jong Un remained unresolved.

After the sudden drop in pricing levels the 2018 season has climbed its way higher once again, trading at $A369/t and $A392/t for the 2019 season. Despite the market’s initial negative reaction to the Indian support package and Brazilian Real fall, it has subsequently stabilized.

India is in no rush to export, so short-term trade flows look tighter for Q3 & Q4, with the surplus pushed into early 2019 and flowing into 2020.

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