China seeks to cool rising prices

As is usually the case, trading slowed during Easter week. Although prices in general stayed firm, and some cuts improved, operators were more cautious on Monday and Tuesday and submitted lower bids than in previous days. A regional broker said the market was “a bit calmer,” waiting to see what Brazil would do, because several plants there are sold out until the SIAL fair in Shanghai (19 21 May). “Several exporters aim not to offer again until the fair,” he added.