The spread between JUL17WMAZ over MAR17WMAZ have closed some more over the past 7 sessions since the last post.  The 2017 spread closed R285  over this period with the July contract decreasing R61 to R3362 whilst the March contract closed R346 to R4252 bringing the spread to –R890 as shown by the red solid line in the graph below and vs the same time last year at –R367