[SMM Analysis] High-Purity Manganese Sulphate Production Declined in January, Expected to Rebound in February

In January 2025, the production of high-purity manganese sulphate declined both MoM and YoY.

The main reason was weak demand from downstream ternary cathode precursor companies, with many enterprises only fulfilling long-term contracts and spot orders being rare. Additionally, during the Chinese New Year holiday, some manganese salt plants suspended production for maintenance, further contributing to the overall production decline.

It is expected that by February 2025, as some manganese salt plants resume normal production, production will increase slightly MoM.