Chinese tanneries began to close in anticipation of the upcoming Lunar New Year celebrations, officially observed on February 10-17. These closures were expected to extend beyond the holiday period, as is customary, leading to reduced operations for an extended duration.
Despite the ongoing shutdowns, tanners remained attentive to market developments as of Wednesday January 22, and they were prepared to engage in purchasing if prices are favorable.
The global hide market was characterized by subdued demand, with buying driven primarily by attractive deals rather than consistent needs. Sellers looking to drive transactions may need to adopt competitive pricing strategies during this quieter market phase.
Cured, wet blue export shipments by selected countries through January 9
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