SHANGHAI, July. 16 (SMM) --
Producers that had halted production will not resume operation due to high costs and sluggish market condition. As some EMM producers have already halted production for more than a month, supply of EMM reduced significantly in the market.
Purchases are expected to remain soft from #200 stainless steel mills due to its sluggish condition. As steel prices are on downward track, steel mills continued cutting output, with purchases from larges steel mills expected to be low. Manganese alloy industries cut production significantly, which is expected to exert negative impact on EMM purchasing volumes. Exporting market is still sluggish, and prices are temporarily stagnant.
Supply and demand both stagnated, and domestic EMM prices will continue to fluctuate narrowly around RMB 14,500/mt.
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