Chinese EMM Prices to Remain Sluggish

SHANGHAI, May 7 (SMM) – Mainstream quotations for domestic EMM prices were between 14,900-15,000/mt Monday. In the face of sluggish demand and higher costs, domestic EMM prices are likely to continue to post weak performance. According to SMM sources, #200 stainless steel markets are still facing surpluses owing to sluggish downstream demand. Operating rate at EMM producers fails to slide but stands at around 46% at present. In this context, SMM expects domestic EMM prices to remain sluggish for the foreseeable future.