STC Market Update – 14th October 2019
The STC market strengthened last week with the price increasing approximately fifty cents. The spot price opened at $37.60 before renewed buying interest pushed the price to a mid week high of $38.20. This is likely a result of last minute buying from the liable entities looking to fulfill their 3rd quarter surrender requirements. A quiet end to the week saw the price fall back to close at $38.00.
The forward market continued to see some trades reported for early to mid 2020 at around the $37.75 level.
The number of STC’s created last week dropped to approx 650,000. This was down 100k from the previous week but was to be expected with a public holiday in most states.
The number of STC’s listed on the clearing house currently sits at 338,623, slightly down from last week. Still no movement at the top of the clearing house list. A link to the STC clearing house can be found here.
Our latest pricing for both registered and non-registered STC’s can be found here.