EMM Prices Hit New Lows Due to Sluggish Transactions-Shanghai Metals Market

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EMM Prices Hit New Lows Due to Sluggish Transactions

SMM Insight 04:09:17PM May 24, 2010 Source:SMM

 SHANGHAI, May 24 (SMM) -- Mainstream offers for EMM were between RMB 14,500-14,600/mt today. Demand for EMM continued to be sluggish, and low-priced supply of EMM was frequently reported in the market.

According to SMM sources, stainless steel continued to be sluggish, and domestic #200 stainless steel mills may gradually begin to conduct unit maintenance and halt production. The weak EMM market may not improve in the short term.

According SMM sources, prices of major raw material like ore powder were still stable at high levels, and most producers felt the significant increased pressure of cost when EMM prices were down. According to an official from Hunan province, current traded prices were already lower than cost level at most producers, and some pessimistic producers had already planned to halt production after selling products at low prices. If prices continued to be sluggish, more and more EMM producers will gradually suspend production.

To contact the writer on this report: jianghanmei@smm.cn

 

Copyright © SMM. All Rights Reserved

None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn


 

EMM Prices Hit New Lows Due to Sluggish Transactions

SMM Insight 04:09:17PM May 24, 2010 Source:SMM

 SHANGHAI, May 24 (SMM) -- Mainstream offers for EMM were between RMB 14,500-14,600/mt today. Demand for EMM continued to be sluggish, and low-priced supply of EMM was frequently reported in the market.

According to SMM sources, stainless steel continued to be sluggish, and domestic #200 stainless steel mills may gradually begin to conduct unit maintenance and halt production. The weak EMM market may not improve in the short term.

According SMM sources, prices of major raw material like ore powder were still stable at high levels, and most producers felt the significant increased pressure of cost when EMM prices were down. According to an official from Hunan province, current traded prices were already lower than cost level at most producers, and some pessimistic producers had already planned to halt production after selling products at low prices. If prices continued to be sluggish, more and more EMM producers will gradually suspend production.

To contact the writer on this report: jianghanmei@smm.cn

 

Copyright © SMM. All Rights Reserved

None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn