China’s Domestic EMM Prices Show Signs to Slip Slightly

SHANGHAI, Aug. 30 (SMM) -- Mainstream offers of EMM were between RMB 15,900-16,000/mt on August 30, and few smelters move a small volume of EMM at prices below RMB 15,800/mt. Domestic EMM prices showed signs to decline slightly.

According to SMM survey, some smelters lowered EMM prices to generate cash to pay for electricity charges, wages and other financial expenditure when purchasing interest from downstream stainless steels was low. However, most smelters under flexible cash flow still kept offers firm for the expectation of price increases in the future given the fact that supply of goods will reduce further in the future.

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