SHANGHAI, July. 9 (SMM) --
Average production costs at EMM producers in main producing regions were around RMB 14,500/mt. Producers that halted production continued to suspend production due to sluggish market condition and high costs. Operating rates at domestic EMM producers may remain low at 51%.
Purchases from #200 stainless steel industry will remain soft due to sluggish condition at #200 stainless steel industry. Manganese alloy industries cut production significantly, which is expected to exert negative impact on EMM purchasing volumes. Exporting market was still sluggish, and prices were temporarily stagnated.
Demand was sluggish, and supply of goods was relatively limited due to low operating rates. Support from costs begins to emerge amid stagnant sentiment between suppliers and purchasers, and most EMM producers were reluctant to move goods at current low prices.
In this context, it is expected that any room for EMM prices to fall will be limited, and prices will temporarily move between RMB 14,300-14,400/mt in the following week.
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