China EMM Market Not to See Price Gains on Weak Demand

BEIJING (SMM): The price of EMM in China’s domestic spot market is expected to stabilize, but no gains are in sight, Shanghai Metals Market foresees. 

EMM prices were largely in the 12,700-12,800 yuan per tonne range on Oct. 24, with no high prices heard. 

Tight month-end liquidities and growing supply pressured some suppliers to cut sales prices, but a new round of bidding price from steel mills allowed cargo-holders, facing no big cash pressures, tried to hold prices stable, SMM understood.  

On the downstream sector front, the price of #200 stainless steel, containing high Ni, dropped sharply with falling nickel prices, with #202 down 600 yuan/tonne. The price of products with high Mn content, by contrast, fell only slightly, according to SMM data. 

Courtesy: www.metal.com