Strong Sentiment to Stand Firm on EMM Quotes, Market Mostly Adopts a Wait-and-See Attitude [SMM Daily Review on EMM]

Published: Jan 21, 2025 14:04

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[SMM EMM Daily Review: Strong Sentiment to Stand Firm on Quotes, Market Mostly Observing] The average spot price of EMM in major production areas was 12,400-12,600 yuan/mt, flat MoM; the average FOB price was $1,700-1,740/mt, also flat MoM. Currently, EMM quotations appear somewhat chaotic, with holders showing weak willingness to sell at low prices and a strong sentiment to stand firm on quotes. Export quotations for EMM continued to rise, with market quotes reaching as high as 13,000 yuan/mt, but actual transaction details await market feedback. As the Chinese New Year approaches, rising freight costs and transportation difficulties are expected to result in a relatively quiet purchasing situation for EMM this week, with limited upside room for EMM prices in the near term.

January 21 News: The average spot price of EMM in major production areas was 12,400-12,600 yuan/mt, flat MoM; the average FOB price was $1,700-1,740/mt, also flat MoM. Currently, EMM quotations appear slightly chaotic, with holders showing weak willingness to sell at low prices and strong sentiment to stand firm on quotes. Export quotations for EMM continued to rise, with market quotes reaching as high as 13,000 yuan/mt, but actual transaction conditions await market feedback. As the Chinese New Year approaches, rising freight costs and transportation difficulties are expected to result in a relatively quiet purchasing situation for EMM this week, with limited upside room for EMM prices in the future.

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