People in the trade who were present at the Shanghai event agreed that for European sellers the fair was largely a waste of time this year, noting that many of their colleagues opted not to attend at all.

Post ACLE, hide prices have started to tumble by an average of €c20 a kilo in Italy as it became obvious that the Chinese market was not interested in European hides. And that American hides were sold cheaply behind closed doors seemed more than a rumour to those in Shanghai.

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