Sluggish Transactions at EMM Market Due
Today, mainstream offers of EMM were in the RMB 15,000-15,200/mt range. Production resumption from downstream stainless steel mills was limited, and purchasing demand was still low, leaving relatively sluggish trading sentiment from the day earlier.

According to SMM sources, some stainless steel mills had low purchasing interest due to constantly climbing of EMM prices and sluggish market condition in stainless steel industry. Most traders also made purchase cautiously due to current sluggish condition in stainless steel industry. According to a trader from Ningbo, stainless steel mills that planned to resume production after the Lantern Festival (February 28th) postponed production resumption time due to constantly rising costs. In this context, traders would also make purchase conservatively due to temporarily sluggish demand. 

 

 

 

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