EMM Plant Offers Remain Firm, Spot Prices Fluctuate Upward [SMM EMM Weekly Review]
[SMM Weekly Review: EMM Plant Offers Remain Firm, Spot Prices Fluctuate Upward]
As of this Friday, the domestic average spot price of EMM was 13,300-13,500 yuan/mt, up 800 yuan/mt MoM; FOB prices were $1,840-1,860/mt, up $110/mt MoM. According to SMM, in terms of supply, EMM plants maintained firm offers during the week, primarily fulfilling previous orders, with a weak willingness to sell actively. On the demand side, the resumption pace of steel mills was slow, leading to weak enthusiasm for EMM procurement. Overseas inquiries were relatively active, but the acceptance of high-priced EMM was low, resulting in sluggish actual transactions.
As of this Friday, the domestic average spot price of EMM was 13,300-13,500 yuan/mt, up 800 yuan/mt MoM; FOB price was $1,840-1,860/mt, up $110/mt MoM. According to SMM, in terms of supply, EMM plants mostly maintained firm offers during the week, focusing on fulfilling previous orders, with a weak willingness to sell actively. On the demand side, the slow resumption pace of steel mills led to weak enthusiasm for EMM procurement. Overseas inquiries were relatively active, but the acceptance of high-priced EMM was low, resulting in sluggish actual transactions.
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