Another rangebound day on the DCE, trading in a 505-510 range, closing 506.5. Feb traded 72.00 – 72.50 range, and Mar in 70.40-70.90 range.
An axed Jan seller sold 73.45 in a few clips at the lows, trading 74.10 last. Not much change on the spreads in the front, Jan/Mar trading 3.25 and 3.30, and Feb/Mar trading 1.60, Mar/Apr trading 1.00.
With the back end feeling the squeeze during last night’s evening session, this morning 19/20 was offered and paid 4.25 in 2.5kt.