What happened this week: It was in the end a pretty complicated week. Although nothing fundamentally changed, the market tested the limits, which we saw it do last summer. A number of parameters have changed since then. Leather prices have gone up, split credits have improved and the leather order situation has improved. Consequently, the present prices look much more justified than half a year ago. All this might be true, but the market continues to struggle to deal with the present levels. It seems that the vast majority of the canning industry is not operating at profitable levels and this is putting the discussion about leather prices back on the table.

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