In July 2025, EMM production showed a dual decline, with a MoM reduction and a YoY decline as well. Behind the decrease in production this month was the simultaneous weakness in both supply and demand: downstream steel mills were in the traditional off-season, with sustained weak demand...

In July 2025, the production of electrolytic manganese dioxide (EMD) showed a positive trend, increasing slightly MoM and achieving a considerable increase YoY. Specifically, the performance of different product types varied: the production of both carbon-zinc type and alkaline manganese battery type MnO2 showed an upward trend. This was mainly due to the stable downstream primary battery market, with new orders emerging continuously...

In July 2025, the production of Mn3O4 showed a steady growth trend, with a slight increase MoM and maintaining a certain growth rate YoY. From the perspective of product grades, market performance exhibited differentiated characteristics: the increase in battery-grade Mn3O4 was relatively significant. This was mainly attributed to two major factors...

In July 2025, the production of high-purity manganese sulphate increased significantly MoM, and also achieved a certain degree of improvement YoY. Supply side, manganese salt factories maintained an active production schedule overall this month. Affected by the destocking in the market in June, some orders were transferred to July for execution, which directly led to a significant increase in the supply volume for the month...

In July 2025, the production of LMO showed a dual growth trend, with a continuous MoM increase and a remarkable YoY growth rate. From the supply side, the market exhibited phased characteristics this month: most producers maintained a stable production schedule in the first ten days; starting from the middle of the month...

This week, the ferrous metals series first rose then fell, with some varieties reaching half-year highs before experiencing significant declines. On the news front, Tuesday saw market sentiment peak as expectations for the upcoming Politburo meeting combined with potential production cut expectations in September due to military parade supply constraints, driving stronger gains in finished products than raw materials. Later in the week, the Politburo meeting concluded without exceeding expectations regarding real estate or anti-"rat race" competition measures, prompting increased exits by bulls. Fundamentally, the third and fourth rounds of coke price increases materialized this week, while finished product inventories began accumulating. Spot market-wise, recent trading activity declined, with arbitrage demand still entering early in the week but transactions plummeting later...

[SMM Analysis: Cathode Material Production Increased MoM Across the Board in July; Stockpiling for Peak Season at Terminal End Expected Soon] SMM News on August 1: In July, the total monthly production of domestic lithium carbonate exceeded 80,000 mt for the first time, up 4% MoM and a significant increase of 26% YoY. The production of lithium hydroxide increased slightly MoM but decreased by 22% YoY. The production of cobalt sulphate decreased by 9.56% MoM but increased by 1.01% YoY. The production of Co3O4 pulled back slightly by 2% MoM but still achieved a significant increase of 25% YoY. The production of ternary cathode precursor showed a steady growth trend, increasing by 5.71% MoM and 5.52% YoY. The production of ternary cathode material continued to grow, increasing by 5.75% MoM and a significant increase of 16.65% YoY. The production of iron phosphate increased by 10% MoM and a substantial increase of 70% YoY. The production of LFP material increased by approximately 1.86% MoM and 36% YoY. The production of LCO showed a significant increase, increasing by 7% MoM and 30% YoY.

As of this Friday, at northern ports: Australian lump ore was priced at 40.7-41.2 yuan/mtu, up 1.24% WoW from last Friday; South African semi-carbonate ore was priced at 34.9-35.4 yuan/mtu, up 2.93% WoW from last Friday; Gabonese ore was priced at 39.8-40.6 yuan/mtu, up 2.03% WoW from last Friday; South African high-iron ore was priced at 29.5-30 yuan/mtu, up 0.68% WoW from last Friday; South African medium-iron ore was priced at 35.2-35.7 yuan/mtu, up 2.90% WoW from last Friday. At southern ports: Australian lump ore was priced at 40.2-40.9 yuan/mtu, up 1.00% WoW from last Friday; South African semi-carbonate ore was priced at 35.5-36 yuan/mtu, up 4.38% WoW from last Friday; Gabonese ore was priced at 40.3-40.8 yuan/mtu, up 2.53% WoW from last Friday; South African high-iron ore was priced at 30.4-30.9 yuan/mtu, up 2.34% WoW from last Friday; South African medium-iron ore was priced at 36.1-36.6 yuan/mtu, up 4.30% WoW from last Friday. Supply side, in the overseas market, Consolidated Minerals Limited (CML) announced its September 2025 offers to China, with Australian lump ore (Mn>46%, Fe<6%, SiO2<18%) priced at $4.57/mtu, up $0.07/mtu MoM from the previous month; Eramet Comilog announced its September 2025 offers for Gabonese ore shipments to China at $4.27/mtu (up $0.07/mtu). Coupled with tight South African ore supply and high market concentration, these factors jointly drove ore prices higher...