SMM EMM Weekly Price Review and Forecast (Oct. 13-17, 2014)

SHANGHAI, Oct. 13 (SMM) – EMM in China largely traded between RMB 12,800-12,900/mt after the Chinese National Day holiday. Supply increased after the weeklong holiday. But rising power tariffs in Guangxi and Hunan allowed local producers to hold offers firm. Traders and stainless steel mills took a wait-and-see stance. 

 

This coming week, growing supply and weak demand will prevent EMM prices from rising. But rising costs will offer support. As such, EMM prices are expected to hold steady.