SHANGHAI, Mar 20 (SMM) – The monthly average spot price of EMM in China’s major producing areas slid 1.02% MoM to 15,410 yuan/mt in February.
Large EMM plants maintained stable production, while small plants resumed their production one after another after the Chinese New Year (CNY), driving up the overall supply. On the demand side, the production schedules of steel mills were lower than expected in February. Steel mills reported thin profit margins and preferred manganese alloys over EMM as the former was more cost effective. Quotations in the spot EMM market kept falling before the meeting of the EMM Innovation Alliance. EMM prices rose after the meeting, but fell back shortly after due to supply-demand imbalance.


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