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SMM Mn Survey: 30% Enterprises Believe Downward Price Trend
Jan 13,2010 13:16CST
smm insight

SHANGHAI, Jan. 13 (SMM) -- Today, mainstream offers of EMM were in the RMB 15,200-15,300/mt range, and producers' views were mixed towards future market outlook.

It was reported that prices offered by producers differed greatly from RMB 15,100 to 15,500/mt. According to SMM survey on future market outlook, around 40% enterprises are optimistic towards future market outlook and believe prices will rise in the future, which is mainly attributed to high costs at producers as well as the expectation that purchasing volumes  which haven't increased at present will grow in the future. Therefore, prices are expected to climb above RMB 15,500/mt; 30% believes prices will remain flat, since supply and demand is largely balanced. Costs at produces are high and supply is tight, while downstream purchasers have already made some purchases gradually, and purchasing interest from downstream consumers is waning. In this context, prices will move in the RMB 15,000-15,500/mt range; what's worth noting is that around 30% enterprises believe that prices will fall in the future, which is different from last week. They hold that prices lie in the demand from downstream consumers, although high costs are unlikely to decline at present. Purchasing need from downstream consumers is gradually waning at present after downstream purchasers have replenished stock in a slow pace, and a large amount of stock replenishment will not occur. In this context, prices will fall back after a short climb, and will move in the RMB 14,800-15,200/mt.

(Sample: 10 enterprises, capacity proportion: 15% )


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