Market Sentiment Pulls Back, Spot Prices Slightly Adjusted Downward [SMM EMM Daily Review]

[SMM Daily Review on EMM: Market Sentiment Pulls Back, Spot Prices Slightly Lowered] The average spot price of EMM in major production areas was 13,400-13,600 yuan/mt, down 100 yuan/mt MoM; the average FOB price was $1,855-1,885/mt, down $20/mt MoM. Supply side, affected by the downward fluctuation of manganese alloy, some EMM holders lowered their offers, and EMM plants showed weak willingness to actively quote. Demand side, downstream steel mills mostly bargained down purchasing prices for EMM, with active inquiries but weak actual transactions. Export side, overseas steel mills mostly bargained down counteroffers, and exporters' quotations appeared somewhat chaotic.