SMM EMM Weekly Price Review and Forecast (Mar. 9-13, 2015)

Published: Mar 9, 2015 17:09

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EMM in China traded lower to RMB 11,700-11,900/mt in the week ending March 6.

SHANGHAI, Mar. 9 (SMM) – EMM in China traded lower to RMB 11,700-11,900/mt in the week ending March 6. Steel mills cut EMM bid prices for delivery in March. Large EMM producers held offers firm at RMB 11,900/mt, while SMEs held offers at RMB 11,700/mt. Traders were cautious about stockpiling goods out of pessimism. Export market was also depressed.

Growing supply will weigh on EMM prices this week, but cost support will help curb the downside room.

China EMM prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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