After a series of first half supply interruptions and with what then looked like very solid demand growth, the last issue said that, "only Indonesia and Russia can currently be viewed as capable of substantial export growth and, while Indonesian producers are clearly confident that they can meet the demand, the Russians are making it clear that price will be an issue if they are to make significant advances in shipments". In the event, the Russians met the challenge in the Atlantic and the Indonesians more than rose to it in the Pacific. Consequently, we have been pitched sharply from a position of apparent shortage into one of comfortable supply. With suppliers elsewhere at last getting their productive acts together, the second half market is looking over-subscribed, with buyers milking the situation by working hard at avoiding expressing any interest in purchasing.
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