Standard commodity prices dropped markedly in January. Initially many suppliers registered increased demand because converters were forced to replenish depleted stocks and exploited the more favourable quotes, according to EUWID research. But with further mark-downs on the cards for February orders tailed off considerably around the fourth calendar week. The massive January slump of upstream product contract quotes was only partially passed on by suppliers. But as the month progressed the full markdown tended to go through.
