EMM plants continue to refuse to budge on prices amid persistent sentiment, with spot prices remaining stable for the time being [SMM EMM Daily Review]

[SMM EMM Daily Review: EMM Plants' Refusal to Budge on Prices Persists, Spot Prices Remain Stable] The average spot price of EMM in major producing areas is 13,450-13,600 yuan/mt, unchanged MoM; the average FOB price is 1,890-1,920 US dollars/mt, unchanged MoM. On the supply side, EMM plants continue to refuse to budge on prices, with firm quotations and weak willingness to sell at low prices, making it difficult to find low-priced goods in the market. On the demand side, downstream buyers, mainly traders, are the main purchasers, while steel mills are cautious and adopt a wait-and-see sentiment towards high-priced EMM, resulting in the spot price of EMM remaining stable.