Chinese port wholesale spot prices have stabilised this week at RMB 2,080-2,200 ($333-353)/mt after recent price increases due to a slowdown in activity and a reduction in January imports. Talks have stalled over the Chinese H1 2015 import contract and will not begin again until after the Chinese New Year holidays next week with both sides unable to compromise at this point. Suppliers continue to push for a 10% increase on the current $305/mt CFR contract price while Chinese representatives are believed to be willing to increase but no higher than 5%. The chinese cite the collapse in oil prices along with the difficulties producers have in achieving their price targets in other regions such as Southeast Asia and Brazil.
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