EMM price increase slowed down, quotation varied [SMM EMM Daily Review]

On June 5, the spot price of EMM in major production areas averaged 13,200-13,400 yuan/mt, holding flat from the previous working day; the FOB price averaged $1,840-1,870/mt, holding flat from the previous working day. Impacted by the slight decline in prices of other manganese products, the current price hike of EMM has slowed down, and the price varied in the spot market. As SiMn alloy futures prices declined, suppliers showed a strong willingness to sell. A small number of sellers quoted higher, but no transactions were done as the demand side rejected high prices. Market transactions were sluggish amid faltering downstream demand. We still need to keep an eye on the changes in the EMM supply-demand relationship.