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

Published: Jun 23, 2025 17:21

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[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.

June 23 News: 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 about to be held at the beginning of the week, most EMM plants held back from selling, with weak willingness to sell actively. Demand side, downstream steel mills mainly purchased EMM cautiously, and most market participants adopted a wait-and-see sentiment, waiting for guidance from the alliance meeting on the future market outlook.

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