[SMM Battery-Grade Manganese Sulfate Weekly Review] Downstream Demand Weakened, High-Purity Manganese Sulfate Prices May Struggle to Rise

Last week, the average spot price of domestic battery-grade manganese sulfate was around 6,350 yuan/mt. The MTD (month-to-date) average spot price of battery-grade manganese sulfate was 6,333 yuan/mt, and the MTD price index of battery-grade manganese sulfate was 5,814 yuan/mt. Spot prices fluctuated at high levels. Some manganese salt producers still undergo shutdowns for maintenance and the structural gap of manganese ore has not been resolved, making raw material procurement difficult. Producers were cautious about shipments. The overall market supply did not see a significant increase and remained at a relatively low level compared to last year. High-purity manganese sulfate producers intended to maintain high prices, keeping market prices relatively stable. However, downstream demand showed signs of weakening, with poor inquiries and low market procurement. It is expected that manganese sulfate prices will barely rise in the short term.