The market is relatively quiet, and the production of high-purity manganese sulfate slightly decreased in July.

According to SMM data, China's high-purity manganese sulfate production in July 2024 was approximately 13,000 mt, down 18.75% MoM and 40.91% YoY.

Research indicates that the production of high-purity manganese sulfate saw a significant decline compared to June. The main reasons are as follows: 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 sulfate companies to show a willingness to hold offers firm again. On the demand side, downstream ternary cathode precursor companies maintained rigid demand, with most still executing long-term contracts and fewer spot purchases, mainly in the inventory reduction phase, resulting in an inactive spot market. In the face of weak demand, high-purity manganese sulfate companies were cautious in production, primarily producing based on orders to avoid low-price sales or excessive inventory, leading to a noticeable overall reduction in production.

In August, downstream ternary cathode precursor companies are expected to increase their production schedules, further releasing demand, thereby driving an increase in high-purity manganese sulfate production. Overall, the production of high-purity manganese sulfate in August is expected to reach approximately 16,100 mt, up 23.85% MoM and down 6.94% YoY.