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ROUGH MARKET

The recent rough tenders have given another boost to prices and highlighted better quality rough remains in a very strong position. Traders feel there is not enough to fill the demand in these ranges, despite calls that demand may have slowed at retail. If this is the case, the ripple effect has not yet arrived and traders are optimistic that heavy buying will continue in these goods. At the cheaper end of the spectrum however, prices are reportedly much weaker, with some selling at discounts in certain ranges such as off-colour yellow, and rough that produces SI1-2 and Piques in polished. Traders said there is pressure for traders to lower their December-January prices in these goods due to the US situation. Some still believe the cheaper end may suddenly rebound as manufacturers have held back on purchasing in the past few weeks and stocks will dry up in the next month. The weakening dollar may also cause some to buy cheaply. “Even at break even or a loss, manufacturers will begin buying again once the stocks are depleted,” said a trader.



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