Supply growth is not there, and the players in the market aren't investing in new supply.
More Quotes from Mark Pervan:
This is clearly just posturing, and a helping hand by the Chinese Government to the Chinese Steel Mills, who clearly have their backs against the wall to try and keep contract prices from rising in 2006.Mark Pervan
This company pretty much operated at full tilt in the last quarter.
Mark Pervan
The capital management was certainly on the cards, but the market wasn't expecting such a generous offer.
Mark Pervan
The market is still very cautious about the damage caused by Hurricane Rita, and they're just digesting new information filtering in about damage to oil rigs in the Gulf of Mexico,
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The market's been driven up on the concern that gasoline supply could fall leading to the heavy demand period of the summer driving season.
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We're looking at a bit of profit-taking this morning ahead of the U. S. crude oil stocks report. The market's probably got a little ahead of itself, since the U. S. crude situation is very healthy at the moment.
Mark Pervan
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