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EMM Prices on the Rise in a Market Dominated by Speculative Activities
Nov 24, 2022 14:31CST
Source:SMM
On November 24, the average price of spot EMM stood at 15,900-16,100 yuan/mt, up 100 yuan/mt from the previous trading day.

SHANGHAI, Nov 24 (SMM) - On November 24, the average price of spot EMM stood at 15,900-16,100 yuan/mt, up 100 yuan/mt from the previous trading day. At present, the bullish sentiment remains unabated as the market is dominated by speculative activities. In addition, as steel bidding at the end of the month is approaching, some industry players are optimistic that EMM prices may rise further. Therefore, most traders remain wait-and-see, and the actual transactions only improve slightly. However, the weak performance of ferromanganese prices has weighed on the demand for EMM from downstream stainless steel factories. As a result, most of the market trades are made based on the demand from the alloy and special steel sectors, while the actual demand for EMM is limited.

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