Bio Paper Premiums Defying Fundamentals
It’s been a quiet trading period with May holidays dampening market activity across Europe and Asia, but some key trends deserve attention. The BOGO benchmark fell sharply today—dropping more than a full standard deviation to +459. Despite this, physical barge premiums in ARAG remained resilient. F0 traded at +691 over ICE gasoil, RME followed closely at +701, and UCOME, though quieter, held firm at +825. This persistence of high physical premiums—despite a softer BOGO—suggests the market is ripe for a correction.
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