The market in China still continued to rise after mid-September, and now rose by CNY700 - CNY1,000 per ton from the end of August. Although there was no conversion of products into cash before China National Day (1st to 7th of October), many of market watchers seem to think the market will take a pause after the holidays are over. Some of market watchers see the trading firms stocked up on the products at the time of a bottom price in mid-August and are reluctant to sell at the moment.

The price meant for Japan now surges close to US$2,200 per ton CIF, and rose by nearly US$200 from the end of August. The price hike in China is overlapping with yen depreciation, and both trading firms and customers have been bothered with the trading in Japanese yen. Some customers secure the products required within the year by making futures purchase because of anticipation of a high price and the concern over the shortage of products, but on the one hand, some customers take a wait-and-see attitude by expecting the yen rebound.

• [Editor:tianxiao]