EMM Market Prices "Slight Increase in Some Areas, Overall Stability" [SMM EMM Daily Review]

Published: Aug 18, 2025 13:26

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[SMM EMM Daily Review: EMM Market Prices "Slightly Up in Some Areas, Overall Stable"] The average spot price of EMM in major production areas was 13,500-13,650 yuan/mt, flat MoM; the average FOB export price remained at $1,900-1,940/mt, up $10/mt MoM. Cost support continued to be prominent, with raw material manganese carbonate ore and sulphuric acid prices remaining high. Domestic EMM producers showed a strong reluctance to budge on prices, making it difficult to find low-priced supplies. Although there were positive macro policy signals on the demand side, downstream steel mills were still in the traditional consumption off-season in August, leading to a wait-and-see sentiment in the market. Raw material purchases were mainly for restocking as needed, with a cautious attitude. High-priced resources struggled to sustain transactions, limiting their boosting effect on prices. Considering supply and demand as well as cost factors, it is expected that EMM prices will remain stable in the short term, lacking sufficient momentum for another increase.

On August 18, the EMM market showed a "slight increase in some areas, overall stability" trend. Among them, the average spot price in the main production area was 13,500-13,650 yuan/mt, flat MoM; the average FOB export price remained at $1,900-1,940/mt, up $10/mt MoM. The cost support continued to be prominent, with raw material manganese carbonate ore and sulphuric acid prices remaining high. Domestic EMM producers were firm in their reluctance to budge on prices, making it difficult to find low-priced goods. Although there were positive macro policy releases on the demand side, downstream steel mills were still in the traditional consumption off-season in August, leading to a strong wait-and-see sentiment in the market. Raw material purchases were mainly based on restocking as needed, with a cautious attitude. High-level resource transactions were hard to sustain, limiting the boost to prices. Considering supply and demand as well as cost factors, it is expected that EMM prices will remain stable in the short term, lacking sufficient momentum for another rise.

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