Cautious Transactions Before the Holiday, EMM Spot Market Temporarily Stable [SMM EMM Daily Review]

[SMM EMM Daily Review: Cautious Transactions Before the Holiday, EMM Spot Market Remains Stable] The average spot price of EMM in major production areas was 12,300-12,500 yuan/mt, flat MoM from the previous working day; the average FOB price was $1,690-1,730/mt, also flat MoM. Supply side, most medium and large manganese plants focused on fulfilling long-term contracts, with retail prices remaining firm and a weak willingness to sell at low prices. Some small manganese plants followed market trends, selling spot orders at lower prices. As the holiday approaches, downstream buyers were cautious in their purchases, mostly adopting a wait-and-see attitude. Attention should still be paid to post-holiday EMM purchasing trends.