US NOLA: Offers retreat due to buyer resistance

摘要

A messy week of trading ended with a $16/st gain in the aveage price at New Orleans, but with a $20/st retreat off of the peak price after endusers refused to support early gains in the barge market. Most business this week was reported in the $240s/st FOB and $250s/st FOB New Orleans, The gain was attributed most to barge traders seeking long positions after India re-entered the market with a tender that might result in purchases of 500-700,000 mt, according to many experienced market watchers, but this will depend on the spread between the lowest offer and the mainstream quotes.