Bullish momentum at GDT Event 397 exceeds expectations

GDT Event 397 delivered a strong overall increase of 6.7%. Since the previous event, market sentiment had remained bullish, although few market participants anticipated such a pronounced outcome, particularly following two consecutive events that had already posted gains. The result significantly exceeded the signal from SGX futures for the “all contracts” index, which had indicated a rise of around 4%. The average winning price closed at $3,830 per ton, representing an increase of 5.95% compared with Event 396.