SHANGHIA, Jun. 9 (SMM) -- Today, mainstream offers of EMM were between RMB 14,300 and 14,400/mt. More and more EMM producers planned to halt production due to cost hikes.
According to SMM survey, favorable electricity prices at high energy-consuming companies shall be cancelled and punitive electricity prices have already implemented at produces with excessive energy consuming and excessive pollutant emission. Electricity prices have already been lifted up by RMB 0.1/kWh in Hunan region. Producers in Guangxi province also told that the previous favorable electricity prices were replaced by current standard at RMB 0.63/kWh.
It is reported that production suspension has already reported in Hunan, Guizhou and Guangxi province due to high cost pressure and producers that haven't halted production also told that they planned to suspend production once the dangerous raw materials like liquid ammonia and sulfate acid are consumed out. If EMM prices continued to be sluggish, operating rates at EMM producers will be down significantly in middle or late June.
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