SMM

[SMM Weekly Review: EMM Plants Gradually Resume Production, Spot Prices Rise Slightly] As of this Friday, the domestic average spot price of EMM stood at 12,500-12,700 yuan/mt, while the FOB price was $1,720-1,760/mt. According to SMM, in terms of supply, EMM plants gradually resumed production during the week, with most maintaining a firm stance similar to the pre-holiday period. Influenced by the firm prices of manganese alloys, EMM holders showed weak willingness to sell at low prices, leading to a mix of high and low prices in the market. On the demand side, although downstream restocking is expected after the holiday, many market participants adopted a wait-and-see attitude due to the upward fluctuation in the manganese market, resulting in relatively quiet inquiries. Attention should still be paid to the downstream demand for EMM in the future.