Currently, the manganese sulphate market faces significant cost pressures: manganese ore supply in China is tight due to transportation delays caused by extreme weather overseas, leading traders to refuse to budge on prices; sulphuric acid has entered its peak demand season, with industrial-grade sulphuric acid in east China up 8% MoM from August, pushing battery-grade manganese sulphate production costs up by about 200 yuan/mt MoM from August. On the demand side, the September-October peak season is driving momentum, with downstream cathode plants and ternary cathode precursor enterprises actively stockpiling. Orders at mainstream manganese salt plants rose 10%-15% MoM in September. As producers operate based on sales, inventory in key production areas fell 5% MoM, resulting in a tight supply-demand balance. On the supply side, environmental protection checks have concentrated available supply, while operating rates at manganese salt plants climbed in September. The capacity utilization rate in Guangxi’s core production area exceeded 65%, though capacity release in Guizhou remained limited due to cost constraints. With the short-term peak season effect continuing, battery-grade manganese sulphate prices are expected to remain strong in October, potentially exceeding 6,100 yuan/mt.
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