SHANGHAI, Feb 16 (SMM) - The average spot price of EMM in the main producing areas was 15,100-15,300 yuan/mt, flat from yesterday. The FOB prices stabilised at $2,250-2,300/mt. Bid prices declined further. However, the survey learned that the transaction prices have not declined below the bid prices. According to SMM research, the mainstream spot prices were 15,200 yuan/mt. Rising supply and falling demand make the market pessimistic about prices, but considering the alliance meeting held this week, mainstream transaction prices are expected to fall within a limited range.
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