Commodity class rebound in afternoon after recent steep losses, leads by CO taking cue from a stronger equity tone. This helped FCPO to recoup some losses, narrow Mon’s opening gap.Despite recent big drop in CO/SO prices, Fcpo shows strong composure, keeping a sideway tone - albeit one notch lower this week- making Fcpo very expensive relatively to SO but yet does not seems to attract hedging or arbitraging activities. With lack of such sellers, mkt is left with specs with short term in mind, therefore keeping the mkt ranging, sideways and boring. Where r the big boys?
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