Amonth which went by, keeping everyone guessing how strong the markets can get at this point.
There was some momentum in the market last month as the Chinese were very active buying tons around end of January. This led to speculation and belief among buyers that the markets would get stronger especially after the Chinese New Year. Would it really happen?
The fact of the matter is that the world is going through a recession and this cannot be ignored. The prices of finished goods have just not improved and infact weakened over time.
Many mills are still struggling and taking down-time. Container movement has not improved and shipping lines are hungry for business, which may mean a further reduction of freight rates.
The Recycled Fibre Market is slow which will lead to a small correction in prices, and thereafter it would be my best guess to say that prices would stay at these levels for the coming month.