What happened this week: Another week where things are neither here nor there. The Chinese customer bases – today the largest for our material – were already winding up for their holiday week starting this weekend and European buyers have also been quiet. Buyers are covered and feel that their chances to buy cheaper are increasing. However, sellers are still showing strong resistance over the world. This continues to widen the gap between buyers and sellers and makes business increasingly difficult. Selling at full and commercially adequate prices is hardly possible today. The market continues to be massively faked by the automotive hides and business. It is again a crucial mixture between forward positions and the large order books of the German car industry everybody hears and reads about in the media. With strong demand for high quality automotive leathers, overseas buyers are participating in the game and buy selected semi-finished products where not everybody can ascertain what he bought. As we have seen already a number of times before, when demand for premium automotive raw material exceeded supply or prices had gone too far up we see now all kinds of bending the descriptions and supplies which opens the door to many kinds of product alterations.

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