SHANGHAI, Aug. 5 (SMM) -- Supply of EMM at major producing regions was still tight, and demand was till stably weak. In addition, production costs were still at high level. SMM expects domestic EMM prices will continue to hover at high level and mainstream EMM prices may advance to RMB 19,500/mt in the following week. With easing electricity restriction, large EMM producers in Xiushan will gradual resume production in two weeks, and weak demand will make EMM prices to fall by then.
Electricity restriction in Guangxi, Guizhou and Hunan is not inclined to ease, and output of EMM at major producing regions will remain around RMB 65 kt per month.
Electricity restriction and sluggish condition in stainless steel mills, and weak demand for EMM did not change. In addition, prices of nickel tumbled.
Current prices for manganese ore, sulfuric acid, and selenium dioxide were stable, resulting in high production costs at EMM producers.