Prices continue to drop throughout most of the basket routes, which has led to the China to Europe weekly price to drop to $3.23 /kg and China to USA to fall to $4.38/kg. The Atlantic routes present positive support potentially linked to a low passenger load factor. Hong Kong to Europe and Hong Kong to USA routes have been impacted the most, with the former falling by 61 cents and the later falling by 82 cents.
Shanghai to Europe and USA drop less than other routes with only minor change of 0.08 and 0.14, respectively. Along the curve s, front month prices correct downward with revised sell side pricing (at $3.38 CN-EU and $4.90 CN US). China to USA still sees relative support, however prices trail downwards along both curves all the way thro ugh into Cal 21.
TAC Index Pricing
|China to Europe||3.23||-0.35||-9.78%||3.23||94.68%|
|China to USA||4.38||-0.48||-9.88%||4.38||87.86%|
|Shanghai to Europe||3.21||-0.08||-2.43%||3.21||119.35%|
|Shanghai to USA||4.46||-0.14||-3.04%||4.46||78.16%|
|Hong Kong to Europe||3.25||-0.61||-15.80%||3.25||112.89%|
|Hong Kong to USA||4.29||-0.82||-16.00%||4.29||93.10%|
|Chicago to Europe||1.71||0.03||1.79%||1.71||133.34%|
|Frankfurt to USA||3.89||0.12||3.18%||3.89||187.05%|
AirFFA Forward Pricing Curves