EMM Plants Reluctant to Sell, Strong Sentiment to Stand Firm on Quotes [SMM EMM Weekly Review]

[SMM Weekly Review: EMM Plants Reluctant to Sell, Strong Sentiment to Stand Firm on Quotes] As of this Friday, the domestic average spot price of EMM was 12,400-12,600 yuan/mt, up 150 yuan/mt WoW; FOB prices were $1,700-1,740/mt, up $10/mt WoW. According to SMM, on the supply side, medium and large EMM plants mainly fulfilled long-term contracts, with weak willingness to sell spot orders. Small EMM plants maintained firm quotes, showing low willingness to sell at lower prices. Approaching the Chinese New Year, supported by rising manganese alloy prices and compounded by logistical difficulties, EMM holders stood firm on their quotes. On the demand side, downstream buyers were actively inquiring, but just-in-time procurement demand remained weak. Actual transactions were sluggish, with low acceptance of high-priced EMM.