The tug-of-war between sellers and buyers in the market, spot price remains stable for now [SMM EMM Daily Review]

[SMM Daily Review of EMM: Tug-of-war between sellers and buyers in the market, spot price remains stable] The average spot price of EMM in the main producing areas is 13,400-13,600 yuan/mt, unchanged MoM; the average FOB price is $1,880-$1,920/mt, unchanged MoM. On the supply side, EMM plants maintain a firm stance, with some holding back from selling, making it difficult to find spot cargo at low prices in the market. On the demand side, downstream steel mills have weak acceptance of high-priced EMM, and most hold a cautious wait-and-see sentiment. Currently, there is a stalemate in the tug-of-war between supply and demand in the market, and the spot price of EMM remains stable.