BRUSSELS, Nov. 8, 2001 (paperloop.com) - Relief at survival rather than optimism for the future made for a surprisingly upbeat mood during London Pulp Week this week. "The mood is good -- better than the reality," said one agent, adding, "The next five or six months will be extremely difficult." Of particular concern was the first quarter of next year, as the impact of the world economic slowdown bites with a consequent reduction in advertising spend and pagination. Many also fear that slightly higher pulp prices will encourage extra pulp production, which will write off the modest gains made. Prices were not said to be the main point of discussion during Pulp Week, even less so terms and rebates, as all parties wait anxiously to see what the next couple of months will bring. The performance of the dollar will have a significant bearing on the sustainability of current prices. The predicted weakening of the currency would strengthen the resolve of Scandinavian producers to at least sustain price levels, according to one analyst. The falling euro revenue which a weakened dollar entails, would encourage Scandinavians to protect prices, possibly through production curtailments -- a measure which Swedish producers have yet to use with any great conviction. Integrated producers in the region will be particularly reluctant to see prices fall as they will wish to protect paper prices. To maintain their euro prices, a dollar pulp price increase would even be possible.