SHANGHAI, Sep 15 (SMM) - The inventory of battery-grade manganese sulphate declined slightly in August, but the overall inventory was still high, hence the prices were unlikely to rise. Month average spot price of battery-grade manganese sulphate in August was 6,667 yuan/mt, down 6.6% on the month. According to SMM, mainstream manganese factories intensively reduced the output in August to control the prices. Therefore, the output declined by 22,800 mt in physical content, down 13.47% on the month.
On the demand side, the demand for ternary precursor (power battery) increased, mainly because the orders for 6-series and 8-series products increased rapidly. According to SMM statistics, China's demand for battery-grade manganese sulphate stood at about 24,900 mt in physical content in August, an increase of 17.12% on the month. The inventory slightly decreased. However, due to the increase in the early stage, the overall inventory was still high.
It is expected that the mainstream manganese factories will continue to reduce the output to control prices and digest their inventory as battery factories have more demand amid the peak season of new energy vehicles. The output in September will be about 21,300 mt in physical content, down 6.58% on the month. As the prices of manganese ore and sulphuric acid continue to fall, the cost support weakened. Therefore, the prices of battery-grade manganese sulphate are expected to remain at 6,200-6,600 yuan/mt.
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