[SMM Analysis] Battery-grade Mn3O4 production rebounds in July, with growth expected to continue in August

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 factors. On the one hand, the LMO market was highly active in July, leading to an increased procurement demand for battery-grade Mn3O4, which greatly motivated relevant enterprises to boost production and drive up planned production. On the other hand, the LMFP market was in the development stage, and Mn3O4 was still chosen as the manganese source in its production process, which also brought certain benefits to the battery-grade Mn3O4 market.​In contrast, electronic-grade Mn3O4 maintained a stable operation, with relatively small fluctuations in overall supply, primarily focusing on maintaining the original production level and fulfilling orders.​

Looking ahead to August 2025, market expectations are positive. With the LMO market expected to recover slightly again, it will further boost the demand for battery-grade Mn3O4 and drive up its planned production. Overall, it is anticipated that the total production of Mn3O4 in August will continue to show an upward trend, with the YoY growth rate remaining optimistic.​