SMM data shows China's December 2023 Mn3O4 production was 8,300 mt (4,700 mt electronic grade, 3,600 mt battery grade), down 8.59% MoM and 40.71% YoY. The total 2023 production was 124,300 mt, down 20.63% YoY. LMO cathode firms cut scheduled production, reducing demand for battery-grade Mn3O4. Electronic-grade Mn3O4 production stayed normal amid lukewarm end-market demand.
Entering January, the LMO market's prospects darken, likely leading to less production for LMO firms and a drop in battery-grade Mn3O4 output. Year-end inventory cuts by Mn3O4 companies might also slightly lower electronic-grade production. January's total Mn3O4 production is projected at about 7,300 mt.
