The Market Was Mainly in a Wait-and-See Mode at the Beginning of the Week, with the Spot Market Running Steadily [SMM EMM Daily Review]

[SMM EMM Daily Review: Market Mainly Observes at the Beginning of the Week, Spot Market Remains Stable] The average spot price of EMM in major production areas was 13,300-13,500 yuan/mt, flat MoM; FOB average price was $1,840-1,860/mt, also flat MoM. Supply side, EMM holders maintained firm offers with weak willingness to sell at low prices, making low-priced cargoes hard to find in the market. Demand side, downstream buyers were cautious in purchasing EMM and showed low acceptance of high-priced EMM. At the beginning of the week, the market was mostly in a wait-and-see mode, and the EMM spot market remained stable.