Smaller Room for Domestic EMM Prices to Fall

It was reported that some producers that were under cash flow pressure began to move goods for the concern of constantly decline of EMM prices in the future. According to a producer with capacity in the 5-10 kt/yr range in Hunan province, transactions were sluggish in EMM market within recent two weeks, and the producer planned to move a portion of goods for a better cash flow. If EMM prices continue to decline in the future, the producer will plan to halt production given current high costs of raw materials.

It was reported a wait-and-see sentiment from traders and downstream stainless steel mills was slightly strong. According to a trader in Dainan, "Demand from stainless steel mills still hasn't improved in Dainan, resulting in sluggish transactions and low EMM prices. Therefore, I have no plan to replenish stock in a large amount."

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