Demand in Muslim markets including Indonesia and Malaysia is expected to weaken in the coming weeks, in line with the Ramadan season. Market players are discussing the possibility that overseas sellers would attempt to push out more cargoes before the holiday season, especially with the lockdown in China.
Vietnamese customers are mostly covered until May, or even longer for some, but sellers remain hopeful that once China put the current outbreak under control the market could record a V-shape hike as most producers are operating at lower rates at the moment.