19 April 1999 00:00 [Source: ACN]
Prices edged up around US$5/tonne to US$315-320/tonne cfr SEA following the outage, but strong buyer resistance was detected when sellers attempted to raise offers beyond US$320/tonne cfr SEA.
Buyers reported receiving offers of US$320/tonne cfr SEA, contrary to unconfirmed and much-doubted reports that there were deals as high as US$325-330/tonne cfr SEA.
Buyers will be driving a hard bargain, knowing that there is material available from a 16 800-tonne US shipment due for mid-May arrival in the hands of a western trader, said market sources.
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