SMM Weekly Forecast on China EMM Metal Market (Jul. 23-27)-Shanghai Metals Market

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SMM Weekly Forecast on China EMM Metal Market (Jul. 23-27)

Price Review & Forecast 05:43:28PM Jul 20, 2012 Source:SMM

SHANGHAI, Jul. 20 (SMM) – As more EMM producers halt production, the average operating rate at these producers has fallen to around 44% at present and is likely to drop further in the future. Supply surplus in domestic EMM markets thus will alleviate gradually for the near future, but domestic EMM prices are unlikely to reverse weakness over the near term. However, EMM prices are expected by SMM to gradually stop falling and begin stabilizing in the coming week, with prices between RMB 13,400-13,600/mt.

Production costs at domestic EMM producers fail to drop noticeably this week since electricity, manganese ore , sulfuric acid, and selenium dioxide prices are little changed.
 

Price

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#1 Refined Cu
Aug.23
46300.0
-115.0
(-0.25%)
Standard-Grade Copper
Aug.23
46290.0
-115.0
(-0.25%)
High-Grade Copper
Aug.23
46310.0
-115.0
(-0.25%)
Guixi copper
Aug.23
46320.0
-115.0
(-0.25%)
Low-quality copper
Aug.23
46260.0
-110.0
(-0.24%)

SMM Weekly Forecast on China EMM Metal Market (Jul. 23-27)

Price Review & Forecast 05:43:28PM Jul 20, 2012 Source:SMM

SHANGHAI, Jul. 20 (SMM) – As more EMM producers halt production, the average operating rate at these producers has fallen to around 44% at present and is likely to drop further in the future. Supply surplus in domestic EMM markets thus will alleviate gradually for the near future, but domestic EMM prices are unlikely to reverse weakness over the near term. However, EMM prices are expected by SMM to gradually stop falling and begin stabilizing in the coming week, with prices between RMB 13,400-13,600/mt.

Production costs at domestic EMM producers fail to drop noticeably this week since electricity, manganese ore , sulfuric acid, and selenium dioxide prices are little changed.