Downstream stockpiled a small amount before the holiday, and spot prices dropped slightly. [SMM EMM Weekly Review]

[SMM Weekly Review: Downstream Buyers Stockpiled a Small Amount of Spot Cargo Before the Holiday, Spot Prices Dropped Slightly] As of Wednesday this week, the average spot price of domestic EMM was 13,350-13,500 yuan/mt, down 25 yuan/mt WoW; the FOB price was US$1,870-1,900/mt, unchanged WoW. According to SMM, on the supply side, EMM plants maintained firm quotes during the week, with weak willingness to sell at low prices. On the demand side, downstream buyers stockpiled a small amount of spot cargo before the holiday, making the EMM market slightly active. However, their acceptance of high-priced EMM was weak. Some holders were eager to sell, and spot prices were under pressure.