The recent NY rally gave shippers an opportunity to sell to the trade which booked some decent differentials. Now, these commitments need to be covered at ECX which have pushed the prices at the Addis Ababa Exchange through the roof to levels way above where shippers sold, Lekempti traded at ECX this week at levels up to 140 c/lb FOB equivalent! Djimmah 5 FOB equivalent was also higher, etc…

Volumes traded at ECX last 3 years at 19th August:

19-20 CHANGE
MT @ 19 AUGUST201820192020MT%
LIMU/OTHER WASHED               17,600                 14,175                 15,002             827 6%
YIRGACHEFFE                 4,916                   6,059                   3,262 –       2,797 -46%
SIDAMO/GUJI               19,076                 20,639                   8,496 –     12,143 -59%
Total Washed               41,592                 40,873                 26,760 –     14,113 -35%
 
MT @ 19 AUGUST201820192020MT%
SIDAMO               14,409                 18,808                   8,720 –     10,088 -54%
LEKEMPTI               35,245                 36,042                 30,253 –       5,789 -16%
DJIMMAH               36,874                 30,501                 33,457          2,956 10%
OTHER NATURAL               34,322                 39,421                 33,548 –       5,873 -15%
Total Natural             120,850               124,772              105,978 –     18,794 -15%
Total             162,442               165,645              132,738 –     32,907 -20%

Forex is also devaluating steadily, 1.5% since the beginning of August, now at 35.85 to the USD.

by Charles Seara Cardoso

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply




Your email address will not be published. Required fields are marked *