Tug-of-War Between Sellers and Buyers Continues, EMM Remains Stable [SMM EMM Daily Review]

[SMM EMM Daily Review: Tug-of-War Between Supply and Demand Continues, EMM Remains Stable] The average spot price of EMM in major production areas stood at 13,300-13,500 yuan/mt, flat MoM; FOB prices averaged $1,845-1,875/mt, also flat MoM. Supply side, the operating rate of EMM plants fluctuated relatively small, and their willingness to sell at low prices remained weak. Some EMM plants continued to hold back from selling, focusing on fulfilling orders. Demand side, downstream steel mills were cautious in purchasing EMM, mostly pressing for lower prices. Currently, the tug-of-war between supply and demand in the EMM market persists, with the spot market remaining stable.