Market Transactions Are Average, EMM Market Consolidates [SMM EMM Daily Review]

Published: Jan 6, 2025 16:56

Save

[SMM Daily Review on EMM: Average Market Transactions, EMM Market Consolidates] The average spot price of EMM in major production areas was 12,300-12,500 yuan/mt, flat MoM from the previous working day; the average FOB price was $1,690-1,730/mt, also flat MoM. Supply side, EMM plants mostly adopted a wait-and-see approach at the beginning of the week, with weak willingness to offer actively. EMM plants showed strong sentiment for price increases, with weak willingness to sell at low prices, focusing mainly on fulfilling long-term contracts, while spot order transactions remained sluggish. Demand side, downstream steel mills are still expected to stockpile before the Chinese New Year, but they remain cautious in purchasing EMM. Attention should be paid to the actual procurement changes in downstream demand for EMM.

January 6 News: The average spot price of EMM in major production areas was 12,300-12,500 yuan/mt, flat MoM compared to the previous working day; the average FOB price was $1,690-1,730/mt, also flat MoM. Supply side, EMM plants mostly adopted a wait-and-see attitude at the beginning of the week, with weak willingness to offer actively. EMM plants showed strong sentiment for price increases, with weak willingness to sell at low prices, focusing mainly on fulfilling long-term contracts, while spot order sales remained sluggish. Demand side, downstream steel mills are still expected to stockpile before the Chinese New Year, but they remain cautious in purchasing EMM. Attention should be paid to changes in actual procurement of EMM by downstream demand.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

23 mins ago

Anhui Panhua New Materials Cold-Rolling Project Pickling Line and Hot-Dip Galvanizing Line Commence Production

Recently, the first coils were successfully rolled off the pickling line and hot-dip galvanizing line of the cold-rolling project of Anhui Panhua New Materials Co., Ltd., for which China National Heavy Machinery Research Institute Co., Ltd., a subsidiary of SINOMACH Heavy Equipment Group, served as the EPC contractor, marking the successful commissioning of the project.

23 mins ago

24 mins ago

Core Equipment for Meishan Iron & Steel’s 1,422 mm Hot Rolling Production Line Commissioned

Recently, the finishing mill unit and sizing press developed by Erzhong Equipment, a subsidiary of SINOMACH Heavy Equipment, for Meishan Iron & Steel’s 1,422 mm hot rolling production line were successfully commissioned. The equipment has been operating stably, with all performance indicators leading the industry, and has received high recognition from the owner.

24 mins ago

39 mins ago

MMi Daily Iron Ore Report (March 26)

Dalian iron ore futures experienced an early session increase before gradually retreating throughout the day. The most-traded I2605 contract ultimately closed at 817 RMB per tonne, marking a modest gain of 0.18% from the previous trading session.

39 mins ago