The market remains in a stalemate, with spot prices temporarily stable [SMM EMM Daily Review]

[SMM EMM Daily Review: Market Remains Stalemate, Spot Prices Stabilize Temporarily] The average spot price of EMM in major producing areas ranges from 13,400 to 13,500 yuan/mt, unchanged MoM; the average FOB price ranges from $1,880 to $1,910/mt, unchanged MoM. In terms of supply, EMM quotations remain firm, with factories showing weak willingness to sell at low prices, focusing mainly on order fulfillment, resulting in slightly tight spot supply. On the demand side, downstream steel mills generally adopt a cautious procurement attitude towards EMM, waiting to see the progress of steel tenders.