SMM EMM Weekly Price Review and Forecast (Jun. 23-27, 2014)

SHANGHAI, Jun. 23 (SMM) – EMM in China’s major producing regions largely traded between RMB 12,400-12,600/mt in the week ending June 22. Producers in Guangxi held offers between RMB 12,500-12,700/mt due to higher production costs. Traders bought in only small amounts out of bearishness. It is rumored that #200 stainless steel producers will cut capacity next month. Should such rumor prove to be true, EMM prices will come under downward pressure.  

 

EMM prices are expected to edge lower this coming week for two reasons. First, some EMM producers will become anxious to sell at the month-end liquidity crunch is biting in. Second, overseas demand will slacken in the summer months.