Helixtap Price Signals Flash Update: Lower Gross Margin Trends Imply A Challenging Environment For Processors In 2024

Towards the end of 2023, SIR20 was assessed at the year-long high above US$1,550/mt. Prior to 2023, this assessment was last seen at these levels in August 2022. Compared to 2022’s price highs around US$1,850/mt, current prices are still more than US$200/mt lower. In terms of the moving average price over the past 20, 50 and 200 days (20, 50 and 200MA), there has been no indication of a change in the upward price trend. Shorter-term moving averages remain below longer-term moving averages.