During the week, the sentiment of EMM plants to stand firm on quotes remained strong, and the spot price in the market remained stable. [SMM EMM Weekly Review]

SMM Weekly Review: EMM Plants Maintained Strong Sentiment to Stand Firm on Quotes, Spot Prices Remained Stable. As of this Friday, the average spot price of domestic EMM was 13,350-13,550 yuan/mt, flat MoM; the FOB price was $1,870-1,900/mt, flat MoM. According to SMM, on the supply side, EMM plants maintained a strong sentiment to stand firm on quotes during the week, keeping EMM offers firm, and low-priced spot cargoes were hard to find. Most traders followed the plants' offers, with a weak willingness to sell at discounts. On the demand side, downstream buyers mostly adopted a wait-and-see attitude, with low acceptance of high-priced EMM. The tug-of-war between sellers and buyers continued, and EMM spot prices remained stable.