The Jun LST/FEI Arb has seen spectacular pressure in the past 2 weeks, Jun fell from -$188/mt on Apr 25 to lows of -$237/mt on May 06 before recovering to -$225/mt on May 08 as LST spreads saw some more support. Poor seasonal demand is weighing on LST and good buying from China and in spreads are supporting FEI.
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