January saw an uptick in CFR offers as buyers locked cargoes ahead of spring production and Lunar New Year shutdowns, shrinking availability. Booking windows for Los Angeles arrivals lengthened and purchases from food and pharma buyers underpinned firmer quotations. The market tone shifted from tentative flows to more assertive buying as downstream buyers prioritized supply ahead of February cycles. Feedstock costs were not a driver; logistics and seasonal patterns dominated. Demand was led by food processing, with beverage and ready-to-drink electrolyte producers absorbing most forward cargoes. The food-processing segment accounts for a large share of domestic demand, amplifying the impact of forward purchasing. Pharma procurement replenished anti-coagulant buffers, lifting inquiries modestly. East Asian producers, led by China, curtailed runs ahead of Lunar New Year maintenance, tightening January arrival slots and supporting higher offers. Freight indices eased, offsetting landed costs somewhat. Outlook depends on holiday restart speed and first-quarter intake by blenders; maintenance and longer booking windows could sustain gains.
