Steel mills are in the off-season, and the spot price of EMM remains stable temporarily [SMM EMM Daily Review]

Published: Jul 31, 2025 11:04

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[SMM EMM Daily Review: Steel Mills in Off-Season, EMM Spot Prices Remain Stable] The average spot price of EMM in major production areas is 13,500-13,600 yuan/mt, unchanged MoM; the average FOB price is $1,880-$1,920/mt, unchanged MoM. Manufacturers are focusing on fulfilling long-term contracts, which has directly led to a relatively tight supply in the spot market. Manufacturers generally adopt a strategy of halting trading and not offering quotes for the time being. Demand side, steel mills are currently in the traditional off-season for consumption, significantly reducing their procurement enthusiasm. At present, steel mills are mostly conducting small-batch and phased restocking operations based on their actual needs. This cautious procurement attitude has made it difficult for the overall market transactions to achieve effective breakthroughs, and trading activity has been somewhat suppressed.

July 31 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. Manufacturers focused on fulfilling long-term contracts, which directly led to a relatively tight supply in the spot market. Manufacturers generally adopted a strategy of halting offers. From the demand side, steel mills were in the traditional off-season for consumption, significantly reducing their procurement enthusiasm. Currently, steel mills are mostly conducting small-batch and phased restocking operations based on their actual needs. This cautious procurement attitude has made it difficult for the overall market transactions to achieve effective breakthroughs, and trading activity has been somewhat suppressed.

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