Manganese Plants Fulfilled More Orders, EMM Production Increased in March [SMM Analysis]

【SMM Analysis: Manganese Plants Focus on Order Deliveries, EMM Production Increased in March】SMM data showed that China's EMM production in March 2025 increased by over 10% MoM and over 3% YoY. The main reasons for the production increase in March were: most EMM plants prioritized the delivery of pre-year orders, leading to a slight rise in the operating rate. Additionally, some previously suspended EMM plants resumed production, and the number of days in the calendar month increased, resulting in an overall increase in EMM supply. Entering April, a few EMM plants are expected to implement minor production cuts due to a shortage of manganese ore raw materials. The operating rates of the remaining EMM plants remain stable, so the overall monthly supply in the manganese market is expected to fluctuate within a relatively small range.