According to SMM, China's Mn3O4 production in July 2024 was 8,900 mt (including 5,300 mt of electronic grade and 3,600 mt of battery grade), down 5.32% MoM and 16.43% YoY. In July, Mn3O4 production slightly decreased compared to June, mainly in battery-grade Mn3O4. The fluctuations in the prices of manganese sulphate solution and EMM led to unstable cost support, increased wait-and-see sentiment in the market, and more cautious shipment strategies by producers. Meanwhile, the LMO industry was in the off-season, with slightly weak demand and spreading market pessimism, further slowing down the procurement of raw materials, resulting in a slight decline in Mn3O4 scheduled production.
It is expected that by August, the LMO market may show signs of recovery, with increased procurement and restocking demand for Mn3O4, driving up producers' scheduled production and improving market trading atmosphere. Based on market feedback, the overall production of battery-grade Mn3O4 in August is expected to increase to about 9,400 mt, up 5.62% MoM and 9.30% YoY.
