Metals News
SMM Weekly Forecast on China’s EMM Market
smm insight
04:47PM
Dec 17,2010
Source:SMM

SHANGHAI, Dec. 17 (SMM) --

Supply:

Although mine operators gradual resumed production by the year end, supply of EMM will still be restricted and production costs of EMM will be stably high due to safety production requirements and weather conditions.

Demand:

Demand from #200 stainless steel mills is still weak, and export market continues to be quiet. From transactions in recent two week it can be seen that, purchases from manganese alloy sector and stainless steel sector were sparse, and only a brief purchasing climax occurred. SMM believes that another purchase climax will occur in the following week from downstream stainless steel mills, large steel mills, ferromanganese alloy sector etc. Since supply doesn’t increase significantly and demand increases slightly, domestic EMM prices may have room to advance slightly. 

Forecast:

SMM believes that domestic EMM prices will rally slightly in the following week, and prices will largely move between RMB 17,800-18,000/mt, and may have difficulty in breaking RMB 18,000/mt given relatively weak demand.

 

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