Market Remained Stable at the Beginning of the Week, Awaiting the Alliance Meeting [SMM EMM Daily Review]

[SMM EMM Daily Review: Market Stable at Start of Week, Awaiting Alliance Meeting] The average spot price of EMM in major producing areas was 13,400-13,500 yuan/mt, unchanged MoM; the average FOB price was $1,880-1,910/mt, unchanged MoM. Supply side, as the alliance meeting was approaching at the start of the week, many EMM plants held back from selling, with weak willingness to sell actively. Demand side, downstream steel mills were cautious in purchasing EMM, with most market participants adopting a wait-and-see sentiment, awaiting guidance from the alliance meeting on future market trends.