[SMM Analysis] High-purity manganese sulphate prices surged

In Q2, affected by port issues, the price of imported Gabonese manganese ore rose significantly, and the prices of sulfuric acid and sodium hydroxide stayed high. Supported by costs, high-purity manganese sulphate prices continued to increase. The overall supply in the market dropped significantly compared to last year, and demand side saw essential purchases, providing moderate support for price increases. Market quotations continued to rise.

In Q3, as low-price manganese ore inventories are depleted and no solution to port issues is found, manganese sulphate producers may be more willing to hold their offers firm. It is expected that the market transaction price will rise to around 7,000 yuan/mt.

In Q4, as the sentiment of manganese ore traders to hold prices firm and be reluctant to sell somewhat subsides, manganese ore prices may gradually stabilise. With the end of maintenance for some manganese salt smelters, the overall market supply will be steady. The price of high-purity manganese sulphate is expected to gradually stabilise.