Bullish momentum confirmed at GDT event 398

GDT Event 398 recorded a strong increase of 3.6%. In the period leading up to the auction, market signals had been mixed; however, this event clearly shifted sentiment to the bullish side, following three consecutive auctions that had already posted gains. The outcome aligned closely with signals from SGX futures, where the “all contracts” indicator pointed to an increase of 3.75%. The average winning price closed at $4,028 per ton, representing a 5.17% increase compared with Event 397.