Tug-of-War Between Sellers and Buyers Continues, Market Stalemate Persists [SMM EMM Daily Review]

[SMM Daily Review on EMM: Tug-of-War Between Sellers and Buyers Continues, Market Stalemate Persists] 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, due to rising raw material costs, supported by higher costs, EMM plants showed strong sentiment to stand firm on quotes, with weak willingness to sell at low prices. Demand side, downstream steel mills exhibited mediocre sentiment in purchases, with most transactions conducted by traders. Currently, the tug-of-war between supply and demand continues, and the EMM market remains in a stalemate.