SMM

[SMM EMM Daily Review: EMM Prices Remain Stable with Strong Reluctance to Budge on Prices in the Market] The average spot price of EMM in major production areas is 13,500-13,600 yuan/mt, unchanged MoM; the average FOB price is $1,880-$1,920/mt, unchanged MoM. Recently, the futures market performance of SiMn has been relatively strong, and the price of raw material sulphuric acid has also risen slightly, driving a more positive sentiment among EMM producers. There is less circulation of low-priced goods, and they are more inclined to wait for transactions at higher prices. Due to the still weak rigid demand from end-users, the purchase willingness of downstream steel mills is average, with fewer high-price transactions being pushed through, and the wait-and-see sentiment in the market remains strong.