Prices should hold up due to Aisan market holiday effect.

:: Asian Markets will close for Lunar New Year.

:: Spot market channel inventory is low

Over the last two weeks, channels players have postponed / held back purchasing activities to drive spot prices down. The level of inventory in the channel has been dried up somewhat. There will be some last-minute orders to fulfill at least a safety inventory level coming from outside of the Asian market. Therefore, prices would have a chance to raise slightly due to limited amount of suppliers during the holiday.

:: Expect prices to hold or come up slightly during the Asian holiday.

Although the transaction volume will probably be low, prices have a chance for a slight rebound as the market can not find a sufficient amount of suppliers during the holiday. We expect spot prices will hold up even after Chinese New Year since the replenishment orders will follow after the Chinese New Year holiday is over (restart trading in the spot market). However, the prices won't rise too high as the fundamental supply-demand situation doesn't change.