The prospects for balance between supply and demand in 2007 do not look good. Against a projected market demand growth of 18mt, split between almost 1mt for the Atlantic and 17.5mt for the Pacific, Forecaster already has notice of substantial supply ambitions. In the Atlantic, the South Americans will be expecting to place another 4-6mt into the market at the same time as the Russians are attempting to expand shipments to the US and the South Africans are trying to recover ground lost in 2005 and 2006. With Pacific Rim suppliers also hopeful of gaining market share in Europe, it is difficult to see how this sector can be anything but oversupplied.
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