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United States – Hide price ceiling broken by Chinese tanners

Published: 11 Nov, 2020

After a few days of relatively quiet trading, things have suddenly leapt into life this week. Over the past few weeks Chinese tanners have been telling anyone who will listen that the ceiling for hides was US$30.00/hide, any higher than this, then they will walk away because they become uneconomical to process above this level. Then what happens, the tanners came back into the market looking for steerhides and paid an increase in some cases of over US$3.00/hide, over the previous booked contracts. This has left most selections of steerhides trading above the US$30.00/hide mark set by tanners, and in some cases many dollars above that mark. So what conclusions can be drawn? Either tanners are not being honest, or that they are so desperate for upholstery suitable hides that they are willing to break their own price ceiling points. The majority of all other selections of hides remained unchanged pricewise. To read more click here.

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