Another wave of bottom fishers entered the market, this time focusing on EC2510, which has now become one of the most hotly contested freight futures contracts, closing with open interest at 56,602 contracts—the third highest after EC2404 and EC2406. Nevertheless, EC2510 gave back most of its earlier gains by the market close, though it still ended the day up 1.34%.
The Shanghai Containerized Freight Index (SCFI) reported a 4.4% weekly decline to 1,961, which translates to around $3,250 per FEU