Speculators still unsuccessful
In foreign markets such as Europe and the USA, the Christmas holidays are approaching, further reducing demand on top of the already weak trend. According to traders, there is also a lack of buying interest in the domestic market. Capacity is underutilised at many processors and the current situation is unlikely to change before the Chinese New Year in early February 2022.
Traders who had speculatively bought up raw materials to realise profits are having a hard time pushing up their market prices under these conditions. Due to