"Converters have raised their operating rates recently, but this increase
in operations has yet to translate into orders for more raw materials,"
commented a China based trader. "We are actively exploring the
possibilities of re-exporting some of our cargoes but are finding it difficult
to conclude satisfactory re-export business because of the additional time and
paperwork required to close re-export deals, "the trader commented. "We expect
prices to move higher for March, but we feel that producers will need to accept
smaller increases than their initial hike targets in order to complete their
March business," the trader told.
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