SHANGHAI, May 9 (SMM) - Chinese EMM output stood at 101,800 mt in April, down 12% on the month and 4.10% on the year, as the SMM data showed. EMM output in the first four months of 2023 totalled around 418,900 mt, up 177.42% year-on-year. Some EMM plants halted operation for various reasons, and a small number of factories reduced their production. The overall downstream demand changed little throughout April because of the increase in EMM consumption by the 300-series stainless steel sector while a decrease in consumption by the 200-series sector.
In May, the EMM plants' inventory pressure may be slightly eased. The stainless steel mills have ramped up their production thanks to relatively good profits. On the other hand, it is said that about 20,000 mt of EMM will be stocked by the State Reserve Bureau. However, the EMM market will still see a supply surplus owing to the sharp increase in EMM output in the first quarter of 2023. According to SMM survey, the EMM plants may cut their output on a large scale in May, hence the overall output will fall further to around 86,300 mt.
