SMM EMM Weekly Price Review and Forecast (Sept. 16-18, 2013)

SHANGHAI, Sept. 16 (SMM) – 

Review:
EMM prices edged up last week due to growing consumption from manganese briquette producers. Manganese briquette producers, who held to the sidelines earlier in the belief that EMM prices would fall further, increased EMM purchases last week as delivery to steel mills is approaching and as EMM prices stand little chance of dropping further. This pushed EMM prices up, but any upside space was limited by weak demand overall.

Forecast:
Improving consumption from manganese briquette producers will push EMM prices higher in the coming week. But any upward momentum will be limited as EMM supply in major producing regions is growing and since demand from major stainless steel mills and overseas remains soft. Mainstream EMM prices are expected at RMB 12,300-12,500/mt in the coming week, and are expected to slip in late September and early October.