Downstream Demand Weakens, EMM Prices Continue to Decline [SMM EMM Daily Review]

On August 28, the spot average price of EMM in major production areas was 12,000-12,200 yuan/mt, down 100 yuan/mt; the average FOB price was $1,710-1,740/mt, down $15/mt. Supply side, the prices of sulphuric acid and selenium dioxide remained relatively stable, providing weak cost support for EMM, leading to continued price weakness. Although some EMM plants slightly reduced production, the overall supply reduction of EMM was limited. Demand side, downstream steel mills, facing losses, are more inclined to consider the cost-effectiveness of raw materials. Compared to other manganese alloy products, EMM prices remain relatively high, so downstream steel mills are cautious about purchasing EMM.