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

[SMM EMM Daily Review: Tug-of-war Between Sellers and Buyers in the Market, Spot Price Remains Stable] The average spot price of EMM in major production areas ranges from 13,400 to 13,600 yuan/mt, unchanged MoM; the average FOB price ranges from $1,880 to $1,920/mt, unchanged MoM. Supply side, EMM plants still exhibit reluctance to budge on prices, with weak willingness to sell at discounted prices, and some EMM plants continue to hold back from selling. Demand side, downstream steel mills are cautious in purchasing EMM, with sluggish market transactions. Currently, the tug-of-war between supply and demand in the market persists, and the spot price remains stable.