Downstream procurement is relatively cautious, and the spot price of EMM is running steady temporarily [SMM EMM Daily Review]

[SMM EMM Daily Review: Downstream Purchases Remain Cautious, EMM Spot Prices Stabilize] The average spot price of EMM in major producing areas is 13,500-13,600 yuan/mt, unchanged MoM; the average FOB price is $1,880-$1,920/mt, unchanged MoM. Supply side, most EMM producers are holding back from selling. Recently, influenced by the SiMn futures market and the rising price of raw material sulphuric acid, the spot order quotes of individual producers have increased, with a strong refusal to budge on prices, and there are fewer low-priced goods in the market. Demand side, downstream steel mills are still in the traditional off-season, and purchases remain cautious. High-price transactions have not advanced, and the overall wait-and-see sentiment is strong. Follow-up attention should still be paid to the progress of steel tenders and market transaction conditions.