The spot price of EMM remains stable temporarily, with downstream players maintaining a wait-and-see attitude [SMM EMM Daily Review]

[SMM EMM Daily Review: EMM spot prices remain stable, downstream wait-and-see sentiment strong] 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, many EMM producers are holding back from selling. Driven by the SiMn futures market, individual spot order quotes have risen. There are fewer low-priced goods in the market, and the overall sentiment to refuse to budge on prices is strong. Demand side, downstream steel mills are still in the traditional off-season, with a strong wait-and-see sentiment overall. Purchasing remains cautious, and it is difficult to push through transactions.