SHANGHAI, Jun. 30 (SMM) – EMM in China’s major producing regions largely traded between RMB 12,400-12,600/mt in the week ending June 27. A few EMM producers cut offers to promote sales against tightening mid-year liquidity, but most held offers firm. Stainless steel mills pushed for lower input costs against depressed prices. This caused trading to come to a virtual standstill.
EMM prices are expected to come under downward pressure from growing supply this coming week.