No.11 Settles at 16.43 Cents and No.5 at $506.90 After Late Selloff
Updated
Updated · czapp.com · Aug 12
No.11 Settles at 16.43 Cents and No.5 at $506.90 After Late Selloff
3 articles · Updated · czapp.com · Aug 12
Summary
No.11 closed at 16.43 cUS$/lb after swinging from an early rise to 17.11 to a late-session low of 16.22, finishing well below its 16.74 open.
Selling pressure built through the afternoon after the market failed to hold morning gains, with a modest late recovery likely aided by short covering rather than renewed buying.
No.5 followed the same pattern, settling at $506.90/mt after climbing to 520.90 early and then sliding to 504.80 as rallies faded and sellers took control.
Both contracts ended with a weaker tone on August 12, reversing orderly early advances and underscoring the market's inability to sustain higher levels.