SHANGHAI, Mar. 15 (SMM) -- Today, mainstream offers of EMM were in the RMB 14,900-15,100/mt range. Low-priced offers were mainly from small producers and traders that had cash flow pressure, and most large producers were reluctant to move goods at low prices.
According to SMM sources, although transactions at RMB 14,900/mt have already reported in domestic EMM market, supply of low-priced goods were limited from producers. With regard to the reason, an official from a manganese producer told that current mainstream costs at EMM producers were around RMB 15,000/mt, and prices of raw material like ore powder, sulfuric acid and selenium dioxide still hovered at high levels and are expected increase. In this context, most producers will reluctant to move goods at low prices.
According to SMM sources, since EMM prices declined again, most traders and downstream producers told that they will make purchases in an appropriate amount. A trader in Dainan reported, "although downstream demand is sluggish, an appropriate amount of goods can be replenished since EMM prices have already fallen below costs. However, purchasing volumes should be controlled since conditions at stainless steel mills and alloy producers were indeed sluggish".
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