What happened this week: It seems that the market has been acting a little like a sleeping dragon. While sleeping, one dares to move a little closer everyday and our confidence and courage rise with every little step as long as nothing happens. However, as something wakes the beast, you have to run for your life. Although some remain shy and stay further away considering the risk, there are always others who get too close and could become easy victims if they are not fast enough. Those who have to run are hunted down whilst the others have probably had enough time to hide away and let the dragon pass. This is a little like the hide market at present. Some seem to be the hunted species and they are really being pushed hard.

This applies in general for origins and suppliers that are mainly oriented towards the Italian market. With the summer holidays approaching and a weaker market, it appears all of the bad habits have resurfaced. Apart from claims of better deals elsewhere, there has also been an aggressive depression of the market through lowering daily bids and new reports virtually every hour of somebody, somewhere selling cheaper and at levels which are anybody’s guess. As far as we are concerned we think that the market or—better put—some players are exaggerating the situation.

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