At the beginning of the week, the market mostly held a wait-and-see sentiment, and spot prices remained stable temporarily [SMM EMM Daily Review]

[SMM EMM Daily Review: Market Maintains Wait-and-See Sentiment at the Beginning of the Week, Spot Prices Remain Stable] The average spot price of EMM in major producing areas is 13,400-13,500 yuan/mt, unchanged MoM; the average FOB price is $1,880-1,910/mt, unchanged MoM. Supply side, at the beginning of the week, EMM plants mostly maintained a wait-and-see sentiment, focusing on fulfilling long-term contract orders from the previous period, with some EMM plants maintaining firm quotes. Traders' quotes, following those of manganese plants, showed relatively small fluctuations, with room for negotiation based on actual orders. Demand side, at the beginning of the week, downstream steel mills were cautious in purchasing EMM, maintaining a wait-and-see sentiment towards EMM, and spot prices remained stable.