SMM Weekly Forecast on China EMM Metal Market (May 7-11)-Shanghai Metals Market

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SMM Weekly Forecast on China EMM Metal Market (May 7-11)

SMM Insight 05:11:36PM May 04, 2012 Source:SMM

SHANGHAI, May 4 (SMM) – Average profit margin at mainstream EMM producers is small between 4-6% for the time being, but between 2-4% or even less at most producers that maintain production. In this context, most EMM producers choose to hold back goods, so domestic EMM prices are unlikely to trend lower further given the fact demand has yet to fall considerably. Nevertheless, owing to no significant improvement in demand, domestic EMM prices will not increase significantly either. SMM anticipates mainstream EMM prices will hover around RMB 15,000/mt in the coming week.
 

Key Words:  EMM prices  

Price

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62% Fe Fines (Qingdao Port): IOPI62
Oct.18
705.0
-8.0
(-1.12%)
62% Fe Fines (Qingdao Port, CFR Equiv.)
Oct.18
92.1
-1.0
(-1.03%)
58% Fe Fines (Qingdao Port): IOPI58
Oct.18
624.0
-2.0
(-0.32%)
58% Fe Fines (Qingdao Port, CFR Equiv.)
Oct.18
82.0
-0.2
(-0.19%)
65% Fe Fines (Qingdao Port): IOPI65
Oct.18
745.0
-5.0
(-0.67%)

SMM Weekly Forecast on China EMM Metal Market (May 7-11)

SMM Insight 05:11:36PM May 04, 2012 Source:SMM

SHANGHAI, May 4 (SMM) – Average profit margin at mainstream EMM producers is small between 4-6% for the time being, but between 2-4% or even less at most producers that maintain production. In this context, most EMM producers choose to hold back goods, so domestic EMM prices are unlikely to trend lower further given the fact demand has yet to fall considerably. Nevertheless, owing to no significant improvement in demand, domestic EMM prices will not increase significantly either. SMM anticipates mainstream EMM prices will hover around RMB 15,000/mt in the coming week.
 

Key Words:  EMM prices