EMM holders slightly loosened their grip, spot price dropped slightly [SMM EMM Weekly Review]

[SMM Weekly Review: EMM Holders Slightly Loosen Their Grip, Spot Prices Drop Slightly] As of Friday this week, the domestic average spot price of EMM was 13,400-13,550 yuan/mt, down 50 yuan/mt WoW from last Friday; the FOB price was $1,890-1,920/mt, unchanged WoW from last Friday. According to SMM, on the supply side, some EMM plants maintained firm quotes, with weak willingness to sell at a discount, focusing mainly on fulfilling orders. However, EMM holders in the market slightly loosened their grip, with quotes slightly lowered. On the demand side, downstream steel mills were cautious in purchasing EMM, with weak acceptance of high-priced EMM, leading to a decline in spot transaction prices.