SMM EMM Weekly Price Review and Forecast (Oct. 20-24, 2014)

SHANGHAI, Oct. 20 (SMM) – EMM prices in China remained stable between RMB 12,800-12,900/mt in the week ending October 17. Rising raw material prices and power tariffs offered cost support to EMM prices. But growing production at major EMM producers and weak demand from stainless steel mills prevented EMM prices from going up. EMM offers varied greatly. Those under great financial pressure cut offers, while those with robust orders on hand held offers as high as RMB 13,000/mt. Traders were cautious about buying at higher prices. 

 

This coming week, rising production costs and tepid demand should keep EMM prices stable.