What happened this week: Slowly but surely the realities are breaking through. Prices have already started to fade prior to the Shanghai fair. We would rather say they have been drifting lower for a while, but for the reasons we specified already over the summer, nobody was willing to admit that. Consequently, a handful of trades were on or close to market level enough to support sellers’ confidence to safeguard the market into the new season. The bulk of trades were however discussed ‘off-record’ and guaranteed sellers the product flow to publish their positive notes.

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