Tug-of-War Between Sellers and Buyers Continues, EMM Remains Range-Bound [SMM EMM Weekly Review]

[SMM Weekly Review: Tug-of-War Between Sellers and Buyers Continues, EMM Remains Consolidated] As of this Friday, the domestic average spot price of EMM was 13,300-13,500 yuan/mt, flat MoM; FOB price was $1,845-1,875/mt, also flat MoM. According to SMM, in terms of supply, most EMM holders held back from selling and quoted based on actual orders. Downstream buyers showed weak enthusiasm for purchasing EMM due to sluggish downstream demand, leading some holders eager to sell to slightly lower their offers. Currently, the tug-of-war between supply and demand in the EMM market continues, coupled with a relatively stable manganese alloy market, keeping spot prices consolidated.