Production Areas Resumed Production, Supply and Demand Returned to Normal, and the Market Consolidated Steadily [SMM Battery-Grade Manganese Sulphate Weekly Review]

This week, manganese sulphate prices in China stabilized overall, with market conditions returning to stability.

Looking back at earlier market conditions, affected by flooding in the main production area of Guangxi, a number of manganese salt enterprises in the region underwent phased shutdowns for maintenance, leading to tighter short-term spot supply. Downstream customers urgently requested more replenishment orders, and producers' inclination to hold back from selling increased, driving manganese sulphate prices slightly higher.

Demand side, although precursor operating rates downstream are steadily recovering, overall end-use demand is mediocre. Market transactions mainly rely on long-term contract orders as a base, with sporadic rigid demand purchased and replenished as needed, and no significant incremental demand yet. At the same time, overall inventory reserves upstream and downstream are relatively ample, and end-users continue to maintain low inventory levels and a cautious stockpiling strategy, with no centralized restocking behavior, further limiting the room for price fluctuations. The overall market trading atmosphere is rational and mediocre.

Cost side, core raw material prices such as sulphuric acid remain high and firm, providing solid bottom support for the manganese sulphate market, while the deep downside room for market conditions is limited. The overall market shows a stable consolidation pattern of "bottom supported but lacking upward momentum."