Trading out of the Australian market was relatively quiet this week for exports, but sources suggested that there may be some smaller shipments trading at a discount. There is some extra material in the Australian market at the moment on strong slaughter, but also due to delays in a renewable demand, and in turn, delayed shipments. The export market was relatively unchanged, although suggestions on price were wide ranging.
Domestic prices were sharply lower, as sellers looked to the interior market as an outlet for the heavy, nearby supply. The low prices are likely to be short-lived, with strong US demand present in the market as well and the startup delays seemingly resolved last week. New Zealand values for export did move lower on backups tied to the unexpected delay in renewable demand.
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09.17.2024
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