The spot price of EMM remains stable temporarily, with many producers holding back from selling [SMM EMM Daily Review]

Published: Jul 29, 2025 14:07

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[SMM Daily Review of EMM: EMM spot price remains stable, producers mostly hold back from selling] Most EMM plants are primarily focused on the execution of long-term contracts, resulting in relatively limited spot market circulation. Producers generally adopt the strategy of holding back from selling. Downstream steel mills are currently in the traditional consumption off-season. The shrinking demand for steel from end-users has led to low enthusiasm for raw material procurement among steel mills, which mainly restock on a need-based basis in small quantities. Market transactions are difficult to advance effectively.

July 29 news: The average spot price of EMM in major production areas was 13,500-13,600 yuan/mt, unchanged MoM; the average FOB price was $1,880-$1,920/mt, unchanged MoM. Most EMM plants focused on the execution of long-term contracts, with relatively limited spot cargo circulation in the market, and generally adopted a strategy of holding back from selling. Downstream steel mills are currently in the traditional consumption off-season. The shrinking demand for steel from end-users has led to low enthusiasm for raw material procurement among steel mills, which mainly restock on a need-based basis with small quantities, making it difficult to effectively boost market transactions.

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