The spot price of EMM is temporarily stable, with all parties waiting for guidance from the alliance meeting. [SMM EMM Daily Review]

[SMM EMM Daily Review: EMM Spot Prices Remain Stable, All Parties Await Guidance from 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. On the supply side, the EMM alliance meeting concluded today, and market participants are awaiting guidance from the meeting. Currently, EMM plants have relatively small willingness to sell at discounted prices, with quoted prices showing little fluctuation. Downstream steel mills remain cautious about purchasing EMM and still need to await the final outcome of the meeting.