Its also to do with the trading of front month contracts.
Traders who never intend on taking delivery are dropping the price of front months (manipulated/no oversight)
Current month futures are then low, so buyers purchase those contracts and then take delivery. Wondeful for current month, how lucky for them.
All the while, producers with long term contracts are told that the future contracts are legit.
This is the first step in regulation, even in China its been noticed.
You dont go from BMX auction with unprecedented demand, then to futures with no demand. BMX was controlled by entities who took delivery. Futures are just trading platforms 99% of the time. Last person with contract takes product.
WR1 General Discussion, page-23624
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Last
57.5¢ |
Change
-0.020(3.36%) |
Mkt cap ! $124.3M | |||
| Open | High | Low | Value | Volume |
| 58.0¢ | 59.0¢ | 56.0¢ | $248.2K | 435.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 12850 | 57.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 58.0¢ | 1195 | 1 |
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