SMM

According to SMM, China's high-purity manganese sulphate production in July 2024 was approximately 13,000 mt, down 18.75% MoM and 40.91% YoY. The survey shows that the production of high-purity manganese sulphate in July saw a significant decline compared to June. On the raw material side, although manganese ore prices slightly decreased, cost support remained strong, and there is still a possibility of a rebound in manganese ore prices. Sulfuric acid prices have already increased by 20% and may rise further, leading high-purity manganese sulphate producers to hold their offers firm again. Demand side, downstream ternary cathode precursor producers maintained rigid demand, with most still executing long-term orders and fewer spot purchases, and they mainly digested inventory. Therefore, the spot market was inactive. With weak demand, high-purity manganese sulphate producers were cautious in production, mainly producing according to orders to avoid low-price sales or excessive inventory, leading to a noticeable overall reduction in production. It is expected that in August, the scheduled production of downstream ternary cathode precursor producers will increase, further releasing demand, thereby driving an increase in the production of high-purity manganese sulphate. The production in August is expected to reach approximately 16,100 mt, up 23.85% MoM but down 6.94% YoY.