Downstream Demand Remains Stable, EMM Market Maintains Status Quo [SMM Daily EMM Review]

[SMM Daily Review on EMM: Downstream Demand Remains Stable, EMM Market Maintains Status Quo] The average spot price of EMM in major production areas was 12,300-12,500 yuan/mt, flat MoM compared to the previous working day; the average FOB price was $1,690-1,730/mt, also flat MoM. Major EMM producers mostly held back from selling, with weak willingness to sell at low prices. Currently, the market trading atmosphere is relatively mediocre, and mainstream EMM market quotations remain stable. In summary, manganese prices are expected to remain stable in the short term, with attention needed on subsequent changes in transaction prices and developments in steel mill tenders.