Cautious Sentiment Before the Holiday, EMM Remains Stable [SMM EMM Daily Review]

[SMM Daily Review on EMM: Pre-Holiday Wait-and-See Dominates, EMM Remains Stable] The average spot price of EMM in major production areas stood at 12,300-12,500 yuan/mt, flat MoM from the previous working day. The average FOB price was $1,690-1,730/mt, also flat MoM. Supply side, approaching the holiday, most EMM plants maintained firm offers with weak willingness to sell at low prices. A few SiMn alloy plants showed willingness to sell at lower prices based on large actual orders. Demand side, downstream steel mills showed weak purchasing enthusiasm. As the holiday approaches, most adopted a wait-and-see attitude and were cautious about purchasing EMM. Attention should be paid to the actual downstream purchasing of EMM in the future.