SHANGHAI, Sept. 29 (SMM) – 

Review:
EMM prices in China slipped RMB 100/mt to below RMB 12,600/mt early this week, as some were anxious to sell at lower prices against tightening liquidity at the month’s end. That being said, most held offers firm ahead of bid invitation by steel producers, helping EMM prices hold stable later in the week.

Forecast:
The average operating rate at major EMM producing regions has grown to 43% and the current monthly output is 85,000 mt, creating a slight supply glut. Meanwhile, demand will be lackluster at the beginning of the month, so EMM prices may fall below RMB 12,300/mt this coming week.