SHANGHAI, Jan 3 (SMM) - On January 3, 2023, the average price of spot EMM in the main producing regions in China stood at 15,700-15,800 yuan/mt, flat from the previous trading day. According to SMM research, the prices moved relatively steadily at the beginning of the week, and the traders were less willing to quote. The market witnessed no sharp increase in transactions despite the market players’ bullish outlook on the pre-holiday stockpiling of downstream companies. The overall market trading remained slack. The spot supply is sufficient, but the actual transactions are limited. SMM believes that the EMM prices may fall further amid the supply surplus.