SMM Weekly Review: Market Transactions Quiet, Spot Prices Stable
As of this Friday, the average spot price of EMM in China was 13,300-13,500 yuan/mt, flat WoW; FOB prices were $1,845-1,875/mt, also flat WoW. According to SMM, on the supply side, the operating rate of EMM plants remained relatively stable, with most fulfilling long-term contracts and showing a low willingness to sell at lower prices, and some EMM plants holding back from selling. On the demand side, downstream steel mills showed weak demand for EMM, with low enthusiasm for purchasing, leading to quiet market transactions and stable EMM spot prices.
As of this Friday, the average spot price of EMM in China was 13,300-13,500 yuan/mt, flat WoW; FOB prices were $1,845-1,875/mt, also flat WoW. According to SMM, supply side, the operating rate of EMM plants remained relatively stable, with most fulfilling long-term contracts and showing a weak willingness to sell at low prices, and some EMM plants holding back from selling. Demand side, downstream steel mills had weak demand for EMM, showing low enthusiasm for purchasing, leading to a quiet market and steady EMM spot prices.
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