Following an active end to October, engagement on the exchange has remained high in the first week of November with 34% of members trading and a 5.5% increase in the number of trades on the previous week. Bordeaux’s trade share has continued to increase and now sits at 86%, its highest level in two months. First Growth trade share has dipped slightly on recent weeks and is currently at 28%. However, Mouton Rothschild has continued to attract demand, accounting for 9% of overall trade share this week.
While the First Growths may not have traded as strongly as in recent weeks, Bordeaux’s trade share has been bolstered by high trading activity from the Left Bank. Cos d’Estournel, Pontet Canet and Lynch Bages all traded well by volume this week.
In recent weeks, talking trade has noted a steady demand for ‘off’ vintage wines. Whilst this trend has continued, Bordeaux 2010 has also begun to trade well. As shown in the chart below, four of the five wines that traded most by value this week are Bordeaux 2010s, and the vintage accounted for 30% of Bordeaux’s overall trade. Is this a sign that buyers are finally taking an interest in this great vintage, which for so long has been shunned?
