GDT crashes by 8.5%
Posted on: 03/05/22
Today’s GDT Auction has crashed back a massive 8.5% in only two weeks to average US $4419 tonne. This is the fourth consecutive drop and must now be a concerning international trend and its hoped the key reason is connected to Shanghai Port lockdown.
Total quantity sold 25,163 tonnes to 107 winning bidders out of 132 participating bidders.
Notable movements were
Butter down 12.5% to average US $5807 tonne
Cheddar down 8.6% to average US $5652 tonne
SMP down 6.5% to average US $4130 tonne
WMP down 6.5% to average US $3916 tonne