[SMM Analysis] High-Purity Manganese Sulphate Production Decreased in December, Expected to Decline Again in January

In December 2024, China's production of high-purity manganese sulphate declined both MoM and YoY.

The slight decline in December production was mainly due to weak demand from downstream ternary cathode precursor companies as the year-end approached, with most companies only maintaining the execution of long-term contracts. Meanwhile, high-purity manganese sulphate producers adopted a pessimistic outlook due to falling spot prices, becoming cautious in their production schedules and focusing on destocking by reducing production.

It is expected that by January next year, due to the Chinese New Year holiday, production schedules will further decrease, and the total market production may continue to decline MoM.