Spot Prices Drop Slightly as All Parties Remain in a Wait-and-See Attitude [SMM EMM Daily Review]

Published: Mar 4, 2025 15:55

Save

[SMM EMM Daily Review: Spot Prices Drop Slightly, Market Participants Mostly Hold a Wait-and-See Attitude] The average spot price of EMM in major production areas was 13,300-13,500 yuan/mt, down 50 yuan/mt MoM; the average FOB price was $1,845-1,875/mt, down $10/mt MoM. Supply side, some holders slightly lowered their offers, while EMM plants showed weak willingness to actively quote, mostly waiting for the upcoming alliance meeting to provide guidance on future prices. Demand side, steel mills were cautious in purchasing EMM at the beginning of the week, and market inquiries were relatively quiet. Attention should be paid to the upcoming alliance meeting and the actual demand for EMM from downstream steel mills.

March 4: The average spot price of EMM in major production areas was 13,300-13,500 yuan/mt, down 50 yuan/mt MoM; the average FOB price was $1,845-1,875/mt, down $10/mt MoM. Supply side, some holders slightly lowered their offers, and EMM plants showed weak willingness to actively quote, mostly waiting for the upcoming alliance meeting to guide future prices. Demand side, steel mills were cautious in purchasing EMM at the beginning of the week, and market inquiries were relatively quiet. Attention should be paid to the upcoming alliance meeting and the actual demand for EMM from downstream steel mills.

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

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Feb 6, 2026 18:30

Before the holiday, the black chain is unlikely to see a trend-driven market [SMM Steel Industry Chain Weekly Report].

This week, ferrous metals were in the doldrums, with coking coal and coke staging a mid-week rise. At the beginning of the week, financial markets experienced sharp fluctuations, dragging down sentiment in the ferrous chain and leading to a pullback in futures. Mid-week, Indonesia's cut to coke production quotas drove coking coal and coke futures to lead the gains, though the impact was more pronounced on thermal coal, while coking coal's rise was largely sentiment-driven and short-lived. In the latter part of the week, finished products continued their seasonal inventory buildup, and support from the raw material side weakened, causing the entire ferrous chain to pull back. In the spot market, with the Chinese New Year holiday approaching, purchasing activity slowed down further, with end-users only making limited, as-needed purchases at low prices.

Feb 6, 2026 18:30

Feb 6, 2026 18:09

MMi Daily Iron Ore Report (February 6)

Today, the DCE iron ore futures continued to hit bottom today, with the most-traded contract I2605 closing at 760.5 yuan/mt, down 1.23% from the previous trading day. Spot prices fell by 5–10 yuan/mt compared to the previous trading day.

Feb 6, 2026 18:09

Feb 6, 2026 17:41

[SMM Chromium Daily Review] Inquiries and Transactions Weakened, Chromium Market Showed Mediocre Performance Before the Holiday

[SMM Chrome Daily Review: Trading and Inquiries Weakened, Chrome Market Showed Mediocre Performance Before the Holiday] February 6, 2026: Today, the ex-factory price of high-carbon ferrochrome in Inner Mongolia was 8,500-8,600 yuan/mt (50% metal content), flat MoM from the previous trading day...

Feb 6, 2026 17:41