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China’s Domestic EMM Prices Slip Slightly On Downward Track
SHANGHAI, Sep. 2 (SMM) -- Mainstream offers of EMM were between RMB 15,800-15,900/mt today, and domestic EMM prices softened slightly due to continuous sluggish demand.
According to SMM sources, purchases from downstream stainless steel mills were reduced due to current sluggish condition and electricity restriction at stainless steel sector. Ferroalloy producers also preferred to adopt a wait-and-see attitude as they would suffer losses to purchase EMM at current EMM prices. Wait-and-see sentiment from traders was also strong when EMM prices were on downward track. In this context, transactions of EMM were relatively sluggish, and mainstream traded prices of EMM were between RMB 15,850-15,900/mt on Wednesday.
Due to strong downstream wait-and-see attitude, China’s domestic EMM prices are expected to soften slightly, and mainstream traded prices will move between RMB 15,800-15,850/mt.
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