The market showed a strong sentiment to hold prices firm, with quiet transactions [SMM EMM Weekly Review]

Published: Sep 13, 2024 14:42

Source: SMM

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As of this Friday, the domestic spot price of EMM averaged 12,000-12,200 yuan/mt, up 200 yuan/mt WoW.

As of this Friday, the domestic spot price of EMM averaged 12,000-12,200 yuan/mt, up 200 yuan/mt WoW; FOB price stood at $1,715-1,745/mt, up $25/mt WoW. According to SMM, supply side, EMM plants' production has not fluctuated much, with supply at a relatively high level. EMM plants showed a strong sentiment to hold prices firm, with slight increases in quotations. Their willingness to sell at lower prices weakened, and some EMM plants held back from selling, focusing primarily on fulfilling long-term contracts. Demand side, downstream demand for EMM remained weak, and the enthusiasm for EMM procurement was low. Currently, EMM market procurement is mainly driven by traders, with weak demand from end-users. Tenders are often involved in low-price competition. Future attention needs to be paid to actual end-user transactions and tender situations.

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