EMM Has Value but No Market; Market Mainly Wait-and-See [SMM EMM Daily Review]

[SMM Daily Review on EMM: EMM Priced but No Transactions, Market Mainly Wait-and-See] The average spot price of EMM in major production areas was 12,400-12,600 yuan/mt, flat MoM; the average FOB price was $1,700-1,740/mt, also flat MoM. Supply side, most EMM plants held back from selling with a strong tendency to withhold goods, and market quotations remained high. EMM production showed relatively small fluctuations, and some EMM plants are expected to gradually resume operations after the Chinese New Year. Demand side, downstream purchases of EMM have gradually slowed. Currently, EMM is priced but with no transactions, and most market participants are adopting a wait-and-see attitude, awaiting post-holiday changes in EMM demand.