Permeate

China’s tariff changes determine the rules of the game

Milk 10

Europe

Very little activity in permeate trade

The permeate market is lackluster as export markets are mostly serviced out of the US at the moment. Upward potential appears to be absent but the downside risk is also limited. Trades mostly happen in the range of EUR 750-800 ex works, which still is somewhat higher than last month. 

Americas

The tide has turned again 

After China reduced its tariffs on US product, exports out of the EU stopped and US manufacturers regained most of the business again. Most of the China business happens at prices around USD 700/t delivered China. 

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