EMM Prices Climb up Stably Temporarily

It was known that more and more stainless steel mills will resume production this week as producers stored limited inventories during the pre-holiday period, and stainless steel mills have to make purchases in an appropriate amount to keep normal production. However, some traders only made limited purchasing volumes for the concern of the unclear market trend. Some traders who had certain amount of inventories on hand planned to move goods when prices climb. According to a trader in Dainan, recovery of downstream stainless steel industry was not clear, and it still needs time to observe the impact of policies that may direct stainless steel industry from NPC &CPPCC, so traders were temporarily conservatively.

According to SMM sources, prices of selenium powder which is the main raw material remained at high levels, and prices of sulfuric acid and selenium dioxide also increased slightly. High cost of raw material is the major factor that supports EMM prices. In addition, since most producers were under no inventory pressure, they also kept offers firm.

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