DMC Prices Fall Due To Sell-Off Triggered By Inventory Pressure And Poor Orders

SHANGHAI, Jun 9 (SMM) – DMC transaction prices fell this week. As of June 8, DMC prices stood between 14,000-14,500 yuan/mt. DMC plants in Shandong offered their cargoes initially at 14,000 yuan/mt, but then lowered quotations by 400 yuan/mt from a week ago to 13,800 yuan/mt. And top-tier ones slashed their offers by 300 yuan/mt to 14,200 yuan/mt. The main reason for this price reduction is that companies are affected by inventory pressure and poor orders, forcing them to lower offers in an attempt to stoke buying.