The latest GDT Pulse event was uneventful for prices with all products edging up—except for Arla medium heat SMP which didn’t meet requirements to have prices published. More on that later.

NZ Regular WMP on offer edged up 0.3% from GDT event #388 to US$3,770/t— US$100/t ahead of the nearest SGX-NZX futures contract. Instant WMP settled at US$3,870/t, 0.4% higher than GDT #388. Fonterra’s medium heat SMP C2 price lifted 0.2%, settling at US$2,615/t with prices seemingly flat across the past four events on the GDT platform. Meanwhile, prices achieved for Arla’s medium heat SMP were not published with 177t of product sold. NZX said the lack of reporting on price suggests [that] there was insufficient demand to bid the product higher than the starting price.