Strong Sentiment to Stand Firm on EMM Quotes, Market Mostly Adopts a Wait-and-See Attitude [SMM Daily Review on EMM]

[SMM EMM Daily Review: Strong Sentiment to Stand Firm on Quotes, Market Mostly Observing] The average spot price of EMM in major production areas was 12,400-12,600 yuan/mt, flat MoM; the average FOB price was $1,700-1,740/mt, also flat MoM. Currently, EMM quotations appear somewhat chaotic, with holders showing weak willingness to sell at low prices and a strong sentiment to stand firm on quotes. Export quotations for EMM continued to rise, with market quotes reaching as high as 13,000 yuan/mt, but actual transaction details await market feedback. As the Chinese New Year approaches, rising freight costs and transportation difficulties are expected to result in a relatively quiet purchasing situation for EMM this week, with limited upside room for EMM prices in the near term.