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Home / Metal News / Market Sentiment Remains Bullish, Spot Prices Rise Again [SMM EMM Daily Review]

Market Sentiment Remains Bullish, Spot Prices Rise Again [SMM EMM Daily Review]

iconFeb 11, 2025 13:56
[SMM Daily Review on EMM: Strong Market Optimism, Spot Prices Rise Again] The average spot price of EMM in major production areas was 12,900-13,100 yuan/mt, up 200 yuan/mt MoM; the average FOB price was $1,790-1,810/mt, up $30/mt MoM. Supply side, EMM plants gradually resumed production, with a strong sentiment to stand firm on quotes and a weak willingness to actively offer prices externally. Demand side, downstream steel bidding gradually commenced, with all parties closely monitoring the progress of steel bidding. Currently, most industry participants remain cautious, with many maintaining an optimistic outlook for the market.
The average spot price of EMM in major production areas was 12,900-13,100 yuan/mt, up 200 yuan/mt MoM; the average FOB price was $1,790-1,810/mt, up $30/mt MoM. Supply side, EMM plants gradually resumed production, with a strong reluctance to sell and a sentiment to stand firm on quotes, while showing weak willingness to actively offer prices externally. Demand side, downstream steel bidding gradually commenced, with all parties closely monitoring the progress of steel bidding. Currently, most in the industry remain cautious, with many participants maintaining a bullish outlook for the market.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

For queries, please contact Lemon Zhao at lemonzhao@smm.cn

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