SMM EMM Weekly Price Review and Forecast (May 11-15, 2015)

May 11, 2015 16:05

Mainstream traded prices for EMM in China took a freefall to below RMB 10,200/mt in the week ending May 8, down as much as over RMB 500/mt.

SHANGHAI, May 11 (SMM) –Mainstream traded prices for EMM in China took a freefall to below RMB 10,200/mt in the week ending May 8, down as much as over RMB 500/mt. A few cash-hungry producers even sold at less than RMB 10,000/mt. Many #200 stainless steel mills cut output, and some even halve their output, hurting EMM demand. Overseas demand has shown no signs of a turnaround.

More EMM producers will cut or halt production against dramatic price fall. This, combined with cost support, should help limit any potential downside room in EMM prices this week.

China EMM prices

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SMM EMM Weekly Price Review and Forecast (May 11-15, 2015)

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