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Downstream Purchase Sentiment Remains Weak, Spot Price Drops Slightly [SMM EMM Weekly Review]

  • Feb 28, 2025, at 10:12 am
[SMM Weekly Review: Weak Sentiment in Downstream Purchases, Spot Prices Drop Slightly] As of this Friday, the domestic average spot price of EMM was 13,350-13,550 yuan/mt, down 150 yuan/mt MoM; FOB prices were $1,855-1,885/mt, down $20/mt MoM. According to SMM, in terms of supply, most EMM plants maintained firm offers with weak willingness to sell at low prices, while some traders sold small quantities at low prices, mostly based on actual order negotiations. In terms of demand, the market was mainly focused on long-term contract purchases, with spot order transactions remaining sluggish, and most downstream steel mills adopting a wait-and-see attitude. Overall, weak sentiment in downstream purchases led to a slight drop in spot prices.
As of this Friday, the domestic average spot price of EMM was 13,350-13,550 yuan/mt, down 150 yuan/mt MoM; the FOB price was $1,855-1,885/mt, down $20/mt MoM. According to SMM, in terms of supply, most EMM plants maintained firm offers with weak willingness to sell at low prices, while some traders sold small volumes at low prices, mostly based on actual order negotiations. On the demand side, the market was mainly focused on long-term contract purchases, with spot order transactions remaining sluggish, and most downstream steel mills adopting a wait-and-see attitude. Overall, downstream purchasing sentiment was weak, and spot prices dropped slightly. Click here to view SMM manganese spot prices.
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