HAMBURG, Oct 20:European industry made steady but unspectacular purchases of cocoa beans this week in periods when the London market fell, traders said on Friday.

London cocoa remained range-bound this week but with some speculative selling causing midweek weakness.

“We had industry enquiries during times when London fell, which led to some limited bean buying, but this fell away at the end of the week when London firmed,” one trader said.

“I did not see any major purchases -- more a steady stream of small deals.” Main delivery enquiries were spread throughout 2007. “I think industry is waiting for lower prices before buying major cover for 2008,” a trader said.

Another trader added: “London falls were not enough to generate major industry purchase interest. Some are hoping for downward price pressure when more of Ghana's main crop enters the market in high volumes.

There are simply few butter sellers around, while demand continues, one trader said. But it is very hard to say if ratios will remain firm, it is not clear if the spot demand will continue. Another trader added: I could only see interest in spot butter deliveries as relatively minor fill-in supplies.—Reuters