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EMM Prices Remain Stable Temporarily
SHANGHAI, July 28 (SMM) -- Mainstream traded prices of EMM were between RMB 15,000-15,100/mt. Supply of goods was relatively few in the market, but downstream purchases were also sluggish.
According to SMM survey, supply of goods was tight in the spot market as some EMM producers had halted production for more than a month. However, purchases from most traders and downstream stainless steel mills were still not brisk and demand was still soft, despite that some traders replenished stocks when EMM prices were on upward track.
In this context, SMM believes that EMM prices will remain largely stable under the context of tight supply and soft demand, and prices will move around RMB 15,000/mt.
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