Prices fall but signs of stability emerge

摘要

Prices continue to correct lower across the market, but further signals of buying interest are starting to emerge. Buyers in India, China and the US stepped into the market this week. Participants remain unconvinced that this will firm price sentiment in the near term, and that the market will absorb further losses before the floor is reached. In China, buyers are starting to push for prices in the low-$300s/t cfr for the next round of buying. Producers with excess spot availability will have to weigh up offers in the mid-$200s/t fob to compete at this level. Many producers are carefully managing stocks and increasing contract shipments where possible to avoid having to issue additional sales tenders in the month ahead.