Rough Market Comments – Rough Markets Soften

Global rough markets continue to soften with average overall prices easing further. Last week’s DTC Sight was relatively small whilst overall prices remained unchanged. Notwithstanding the overall slowdown in momentum compared to Q1, there is still solid demand for rough as evidenced by strong attendance at rough tenders in different geographic locations last week. Tender prices still outperforming open-market prices. Polished prices remain stable as market looks towards upcoming Las Vegas trade show at the end of the month to ascertain true market sentiment and buyer appetite.