SHANGHAI, Feb 24 (SMM) - The average spot price of EMM (main produce regions) is 15,500-15,700 yuan/mt, flat from yesterday. FOB price is temporarily stable at $2,250-2,280/mt.
Supply side: The daily output of EMM is temporarily stable. Affected by the rising price of sulphuric acid, the production cost of EMM has increased. But in the short term, the profit is acceptable.
Demand side: The demand from stainless steel mills has not yet improved, with bid solicitation volume falling. Baosteel will announce its bid price today, which is likely to rise with market prices. But the bid prices by other stainless steel mills remained unknown, and the market shall still pay attention to the guidance of other bid prices in the future.
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