March 12: The average spot price of EMM in major production areas was 13,300-13,500 yuan/mt, flat MoM; the average FOB price was $1,845-1,875/mt, also flat MoM. Supply side, most EMM holders held back from selling, showing a strong reluctance to release cargo. Demand side, downstream buyers showed weak enthusiasm for EMM procurement, and market transactions remained sluggish. Currently, the market is largely in a wait-and-see mode, with the tug-of-war between sellers and buyers in the EMM market continuing.
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