SHANGHAI, Feb. 12 (SMM) -- Restricted by raw material supply, operating rates stayed at low level at most EMM producers, and supply of EMM hasn’t increased significantly. Meanwhile, given that pre-holiday purchases were not brisk, SMM expects downstream stainless steel mills will conduct normal purchases in the following week.

In this context, SMM expects that EMM prices will have room to rise slightly and will move in the RMB 18,800-19,000/mt range amide increasing demand but tight supply.

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