Prices barely moved week to week
Domestic China**;s *.*D×**mm grade moved from $*.*** per kg on June * to $*.*** per kg by July **, translating into roughly a *.* per cent shift over five weeks — but on a weekly basis, the pace has been minimal, at around *.* per cent between June ** and June **. That kind of small, incremental weekly change reflects a market holding steady with slight firmness, not a directional rally. The *.*D×**mm and High-End domestic China grades showed the same pattern: gains of about *.* per cent over the five-week window, but weekly moves of only *.* per cent, consistent with a stable market rather than an accelerating one. Medium-grade FOB material out of Southeast Asia was flattest of all, essentially unchanged at $*.*** per kg throughout the period, with weekly change at just *.*–*.* per cent effectively flat pricing.
Taken together, a cumulative move of roughly *–* per cent over five weeks, built from weekly steps as small as *.* per cent, does not constitute an uptrend in the ordinary sense of the term. It reads more accurately as a market in equilibrium, with prices essentially stable and only marginally biased upward.
Tight supply, not strong demand, explains the lean
