Daily Market Price Updates and Commentary 10th November 2026

Despite starting with token gains the market immediately turned south to 18.10, bringing instant focus to the 18.02 support level. Smaller traders seized on the opportunity to test the support and within an hour we had slipped to 18.05, though the 18c area remained tantilisingly out of reach due to some solid scale buying. Short covering returned March’27 through the middle of the morning and placed the market at a small credit as the US Day approached. Selling then followed from here too and sent prices back through the range, this time encouraging some heavier long liquidation which sent values beneath 18c for the first time since August. Buying did not go away, and the presence of the scales meant that we traded no lower than 17.91 before some shorts threw in the towel and covered back exposures. This brought the price back to the teens, but with little appetite to add to long positions the market then continued to flirt with 18c across the rest of the afternoon. By the close we continued to hold above this market and a settlement at 18.09 was recorded to leave the chart still vulnerable should physical interest not pick up. 

March’27 quickly dropped on the opening in reaction to lower No.11 values and place values back in the lower teens. Firmer white premium values driven by the strengthening of Dec’26 spreads were meaning that the recent lows were not being troubled and following a short period of consolidation the March’27 contract climbed back through the teens to sit at a small credit for the remainder of the morning. Through noon the picture changed again, and on this occasion the selling had a bigger impact as we first returned to the early lows before being pressured down to test last Fridays $509.70 low. Better buying ahead of this mark allowed March’27 to hold on, and having reached $510.60 there was another bounce driven by more day trader covering. Alongside we saw the Dec’26 enjoy a steady, but calmer day with the Dec’26/March’27 ranging between -$8.50 and -$6.00 on still decent volume, with the value sitting little changed into the final part of the session. By now the flat price had returned to the lower end of the range, but there was no heavy pressure applied and the earlier lows remained intact. A mixed close resulted in a settlement level at $512.40 leaving the wider picture unchanged for another day.