[SMM Weekly Review: Favourable Macro Front Stimulates Firm Quotes from Manganese Plants] As of Friday this week, the average spot price of domestic EMM was 13,450-13,600 yuan/mt, up 100 yuan/mt WoW from last Friday; the FOB price was US$1,890-1,900/mt, up US$10/mt WoW from last Friday. According to SMM, on the supply side, stimulated by the favourable macro front, EMM plants had strong sentiment to stand firm on quotes during the week, with weak willingness to sell at low prices. Traders mostly followed the firm quotes from EMM plants, making it difficult to find low-priced cargoes in the market. On the demand side, downstream buyers were cautious in purchasing EMM. Steel tender pricing increased WoW during the week, and market participants maintained a cautious wait-and-see attitude.
As of Friday this week, the average spot price of domestic electrolytic manganese (EMM) was 13,450-13,600 yuan/mt, up 100 yuan/mt WoW from last Friday. The FOB price was 1,890-1,900 US dollars/mt, up 10 US dollars/mt WoW from last Friday. According to SMM, on the supply side, stimulated by the favourable macro front, EMM plants had strong sentiment to stand firm on quotes during the week, with weak willingness to sell at low prices. Traders mostly followed the firm quotes of EMM plants, making it difficult to find low-priced goods in the market. On the demand side, downstream buyers were cautious in purchasing EMM. Steel tender pricing increased WoW during the week, and market participants mostly maintained a cautious wait-and-see attitude.
