EMM Remains Stable While Market Wait-and-See Sentiment Prevails [SMM EMM Daily Review]

[SMM Daily Review on EMM: EMM Remains Stable with Strong Wait-and-See Sentiment in the Market] 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. Supply side, EMM plants have gradually resumed production, with many holding back from selling, while some holders maintained firm quotes. Due to the strong sentiment to stand firm on quotes for other manganese alloy products, the willingness to sell EMM at low prices remained weak. Demand side, the post-holiday resumption pace has been slow, leading to weak enthusiasm for EMM procurement. Attention should still be paid to changes in demand for EMM from downstream steel mills.