SMM Comments: EMM Prices Remained Weak after the Holiday

SHANGHAI, April 6(SMM) - The average spot prices of EMM in main producing areas fell by 500 yuan/mt to 15,000-17,300 yuan/mt compared with the average prices before the Qingming festival, and the average prices of FOB fell by $100/mt to $2,500-2,800/mt. The EMM fundamental has changed slightly after the holiday. In terms of the supply side, the expected overall operating rates were higher than that of March. The quotations of available goods in the market declined again with moderate inquiries at the beginning of the month. There are more than thousand mt of EMM supply overseas, waiting for price negotiation with acceptable demand. SMM believed that the EMM prices were still weak in the first week after the Qingming holiday, and the market shall focus on the trading pricing guidelines.