Yuzhnyy prices rebound but duration uncertain

摘要

The substantial sales generated to traders short in India will impact Yuzhnyy shipments significantly in coming weeks. The added volume already resulted in a rebound in prices, and values of Yuzhnyy positions recuperated some of the losses suffered over the preceding 10-12 days. Producers also cite the announcement of the STC tender in India in support of higher asking prices, and traders with remaining length appear confident of better returns in upcoming business.