23 September 2011 09:02 [Source: ICIS news]
The prices have fallen to CNY10,700-10,750/tonne ex-tank Zhangjiagang on 23 September from CNY11,350/tonne ex-tank seen earlier this week, the traders added.
“There are lots of offers this morning, but buyers have temporally adopted a wait-and-see stance,” a trader in east
“SM demand has been weak in recent weeks and now that the prices of crude oil is down, there is even less support for the SM market,” a second trader said.
The inventory levels of spot parcels in east China are low, but most market players are cautious about the market in the near term given the price volatility this week, a third trader said.
($1 = CNY6.39)
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