The tug-of-war between sellers and buyers in the market continues, with spot prices remaining stable. [SMM EMM Daily Review]

SMM EMM Daily Review: Tug-of-War Between Sellers and Buyers Continues, Spot Prices Remain Stable. 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, EMM plants are currently less willing to actively quote prices, mostly maintaining stable production. At the beginning of the month, they mainly deliver long-term contract orders, with limited spot cargo circulating in the market. Downstream demand for EMM is primarily driven by long-term contract orders, with spot order transactions being sluggish. The tug-of-war between sellers and buyers continues, and spot prices remain stable.