Understanding trader-speak is an art. My fellow blogger, Paul Hodges has written an insightful explanation of some classic trader expressions on his blog.
To these, the ICIS aromatics reporting team can add the following:
“I haven’t done anything in the market this week, but I heard this low deal done.”
= Please move the ICIS assessment down to this level.
“No, I don’t know who was involved with that deal.”
= It’s my deal.
“No, I can’t confirm that deal.”
= It’s my deal but I’m ashamed of it now.
“There’s an armada of import shipments coming in to Rotterdam so prices are under pressure.”
= I’m short and looking to buy.
“I’m a trader so not involved in contract prices, just interested to know what’s going on.”
= I’ve got a contract-related formula in my deals to supply, and it’s agony waiting for you to publish that contract price.