China's Domestic EMM Prices May Increase Slightly in a Stable Pace

It was reported that investigations dedicating to finding out mines without business licenses were conducted in Huayuan region of Hunan province, and ore powder prices rose slightly in stable pace due to tight supply. In addition, supply shortage of ore powder hasn't eased in other regions either, and the stably high prices of ore powder will lend strong support for domestic EMM prices. What's more, operating rates at EMM producers were only around 71% due to electricity power restriction as well as tight supply of ore powder, so the supply of EMM will not exert sales pressure in the market.

It was also reported that, operating rates at large stainless steel mills were around 80%. Although the sluggish situation in downstream stainless steel industry hasn't changed much, stainless steel mills still had to make purchase on an as-needed basis, and demand from downstream stainless steels will lend support to keep EMM prices stable.

In smarmy, SMM believes that China's domestic EMM prices may rise slightly in a stable pace due to support from high cost at EMM producers and demand from downstream stainless steel mills. 

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