Insufficient downstream demand support led to a downward fluctuation in the market. [SMM EMM Daily Review]

SMM EMM Daily Review: Insufficient Downstream Demand Support, Market Fluctuates Downward. The average spot price of EMM in the main production areas was 13,300-13,500 yuan/mt, flat MoM; the average FOB price was $1,845-1,875/mt, flat MoM. Supply side, affected by the rising price of sulphuric acid, cost support remained strong, and EMM plants showed weak willingness to sell at low prices. Some EMM plants still had room for negotiation based on actual orders. Demand side, downstream steel mills showed weak purchasing enthusiasm for EMM. Currently, the downstream demand support for the EMM market is insufficient, and the market continues to fluctuate downward.