European swaps fail in contrast to physical

摘要

European paper prices failed to build on gains from the previous session, falling steeply at the back of the curve, and tightening the backwardation. Losses were less pronounced at the near curve, in line with firmer physical prices. The API 2 prompt month contract declined by 40 cents/t on the day to settle at $81.45/t while the May contract was down by 70 cents/t, at $81.20/t.