Trading and bidding activity in the market was minimal while many tanners in China have begun closing for Lunar New Year (LNY) celebrations. However, most of the bids in the market are from Chinese tanners. Tanners in Mexico and Europe have been relatively inactive this week, with exception of an occasional bid.
According to several tanners in footwear, automotive and luxury sectors, hide demand remains flat with no improvements of leather order volumes from brands.
This week is expected to be a slow week of trading due to the upcoming CLNY holiday.
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