SHANGHAI, Feb. 2 (SMM) – EMM traded between RMB 11,800-12,000/mt in the week ending January 30, with most deals done at the lower end of the price range. Stainless steels began bid invitation to buy EMM, but this did not give a boost to EMM prices. Inquiries from traders were thin. #200 steel mills were pushing for lower input prices against tight cash.
EMM prices are expected to fall slightly to RMB 11,800-11,900/mt this week due to weakening demand.