EMM Plants Show Strong Sentiment to Stand Firm on Quotes, While the Market Remains in a Wait-and-See Mode [SMM EMM Daily Review]

[SMM Daily Review on EMM: Strong Sentiment to Stand Firm on Quotes Among EMM Plants, Market Mostly in Wait-and-See Mode] The average spot price of EMM in major production areas was 13,300-13,500 yuan/mt, flat MoM; the average FOB price was $1,840-1,860/mt, also flat MoM. Supply side, EMM plants were mostly fulfilling previous orders with weak willingness to sell, leading to tight spot supply in the EMM market and strong sentiment to stand firm on quotes among EMM plants. Demand side, inquiries in both domestic and overseas EMM markets were relatively active, with strong enthusiasm for EMM procurement. Overall, driven by the sentiment to stand firm on quotes, EMM spot prices rose slightly.