Downstream Demand Recovers, EMM Spot Prices Fluctuate Upward [SMM Analysis]

Published: Dec 27, 2024 23:37

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[SMM Analysis: Downstream Demand Recovers, EMM Spot Price Fluctuates Upward] Supply side, most EMM plants slightly increased production, while EMM plants in Guizhou slightly reduced production due to furnace maintenance. Overall, EMM production in December is expected to increase MoM. Demand side, due to favorable market news, other manganese alloy products experienced tight spot supply and rapid price increases in December, leading downstream demand to favor EMM procurement and boosting purchasing enthusiasm for EMM. In summary, driven by the boost from other manganese alloys and the effective digestion of previous inventories by manganese plants, EMM prices in December fluctuated upward. Entering January 2025, EMM prices are expected to continue fluctuating upward. Supply side, some EMM plants plan to suspend production for maintenance, and EMM supply is expected to decrease slightly in the future. Demand side, downstream steel mills are expected to stockpile ahead of the Chinese New Year, leading to a slight recovery in EMM demand. In conclusion, supported by the stockpiling demand from downstream steel mills, EMM prices are expected to continue fluctuating downward in the future.

SMM, December 27:

Supply side, most EMM plants saw a slight increase in production, while EMM plants in Guizhou experienced a slight decrease in production due to furnace shutdowns for maintenance. Overall, EMM production in December is expected to increase MoM.

Demand side, other manganese alloy products faced tight spot supply in December due to favorable market news, leading to rapid price increases. Downstream demand shifted towards EMM, with increased purchasing enthusiasm. Overall, supported by the boost from other manganese alloys and the effective digestion of previous inventories by manganese plants, EMM prices in December fluctuated upward.

In January 2025, EMM prices are expected to continue fluctuating upward. On the supply side, some EMM plants plan to suspend production for maintenance, leading to a slight decrease in EMM supply. On the demand side, downstream steel mills are expected to stockpile ahead of the Chinese New Year, with EMM demand slightly recovering. In summary, supported by stockpiling demand from downstream steel mills, EMM prices are expected to continue fluctuating downward in the future.

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