BRUSSELS, Sept. 24, 2001 (paperloop.com) - Sources indicated that the spot market in Europe has practically disappeared as spot lots have dried up, in particular for eucalyptus pulp. Spot prices for northern bleached softwood kraft are reported to be moving closer to $400/tonne for volumes that are available. In the hardwood arena, industry observers said that only small volumes of eucalyptus are being sold on the spot market, with many indicating that producers are no longer entertaining spot offers and are instead only willing to sell tonnage at contract prices. One source said that a level of $380/tonne may be available for spot volumes, but also reported that not much is available. Market observers pointed out that the gap between spot and contract prices is narrowing, which is a positive sign for the pulp sector. But they added that producers must continue to wield the downtime sword in the fourth quarter if the market upturn is to prove a success.