SHANGHAI, Aug. 13 (SMM) --
Ferroalloy industry will reduce its purchases for EMM. Situation is sluggish at stainless steel industry, so purchasing will be very limited next week. Purchasing bids from large steel mills will not higher than market expectation given production cuts and high inventory level at mills.
Tight ore supply not only adds production costs at EMM producers but also drag down operating rates at EMM producers. In this context, supply of goods is relatively tight in the market, which will help support EMM prices to certain extent.
Supply of goods is at low level, but demand also weakens. In this context, China's domestic EMM prices are under pressure to fall stably.
It is expected that EMM prices will move around RMB 15,200/mt in the following week.
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