SMM EMM Weekly Price Review and Forecast (May 18-22, 2015)

Published: May 18, 2015 13:16

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Mainstream traded prices for EMM in China fell slightly to around RMB 10,000/mt in the week ending May 15.

SHANGHAI, May 18 (SMM) – Mainstream traded prices for EMM in China fell slightly to around RMB 10,000/mt in the week ending May 15. EMM producers that just closed focused on selling down inventories on hand. EMM producers that remain in production were unwilling to sell at much lower prices. Major #200 stainless steel mills cut production, causing EMM consumption to fall by over 20%. Overseas demand also weakened significantly.

Operating rates at EMM producers are extremely low, which will underpin EMM prices. However, demand also fell, so EMM prices are unlikely to go up.

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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