Electrolytic manganese entered its traditional off-season in May and June 2026, with the market witnessing a loose supply-demand surplus and narrow price fluctuation ranges. Hit by sluggish downstream purchases, prices once corrected notably......

Affected by the traditional consumption off-season and raw material price transmission, China’s deep-processed manganese products came under overall downward pressure this week. Products showed differentiated market performances due to distinct supply-demand fundamentals, with obvious linkage across the industrial chain.

Trading activity in China's electrolytic manganese market remained sluggish this week. After an earlier decline, mainstream spot prices have stabilized at a transaction level of 17,800 yuan per ton.

The domestic electrolytic manganese market has stabilized slightly after a minor decline recently, with a lingering weak and sluggish market sentiment. Although the price drop has slowed down without continuous sharp declines, market pessimism remains prevalent, and downward pressure is still prominent.

Recently, China’s EMM market has shown a slight decline followed by temporary stabilization, with a persistently weak, gradual downtrend atmosphere. Although the price decline has slowed down and no sustained sharp drops have occurred, market pessimism is strong and downward pressure remains.

Recently, China's EMM market displayed a distinct dual pattern of "strong cost support with loosening at highs," with intensifying industry supply-demand and cost dynamics.

During the 2026 Spring Festival holiday, China’s manganese tetroxide market maintained a weak tone, characterized by sluggish trading, stable prices, and stalemated supply and demand. On the cost side, electrolytic manganese prices bottomed out at low levels with limited upward momentum. On the demand side, lithium manganate producers had completed pre-holiday restocking and focused on inventory digestion.

During the Chinese New Year holiday in 2026, the SiMn market operated steadily overall, with spot prices maintaining sideways movement. The fluctuation range in the operating rate of alloy plants was relatively small, and the market as a whole exhibited a "supply-demand weak balance with prominent cost support" pattern.

During the 2026 Spring Festival holiday, the electrolytic manganese market stabilized at the bottom with sluggish transactions. Before the holiday, the market’s downward momentum slowed after a cumulative 600 yuan/ton drop, with mainstream prices approaching the 17,000 yuan/ton mark, supported by steel mills’ final pre-holiday stockpiling. During the holiday, prices remained stable at around 17,300 yuan/ton with almost no transactions.

In late January 2026, China’s domestic trimanganese tetroxide market presents a two-way game of rising cost pressure and steadily recovering demand. Sustained price increases of upstream raw materials such as electrolytic manganese and manganese sulfate have imposed heavy cost burdens on manufacturers. Meanwhile, rising prices of downstream lithium manganate, coupled with the release of pre-holiday restocking demand ahead of the Spring Festival, have provided solid support for the market.Under the mutual restraint of bullish and bearish factors, market prices have maintained stable operation, and the industry generally expects trimanganese tetroxide prices to stay largely flat before the Spring Festival.