SHANGHAI, May. 7 (SMM) --
Supply of EMM remained stable, and prices of ore power which is a major raw material for EMM production will stay stable given that domestic EMM prices fluctuated at low levels and had limited room to advance further. Prices of sulfuric acid which is a complementary material for EMM production continued to decline, and support from costs gradually waned.
Demand from stainless steel sectors was sluggish, and consumers from stainless steel sectors are expected to make purchases on an as-needed basis. Export offers also declined slightly, and it still takes time for export market to recover.
Domestic EMM prices are expected to fall slightly around cost level as demand is weak and support from costs is waning. It is expected that EMM prices will move between RMB 15,300-15,500/mt in the following week.
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