High-purity Manganese Sulphate Output Soar in Feb with Production Resumption of Companies

SHANGHAI, Mar 20 (SMM) - In February, battery-grade manganese sulphate producers resumed production, but the demand recovered slower than expected, slightly pushing up the battery-grade manganese sulphate inventory. In February, the monthly average spot price stood at 6,475 yuan/mt, flat from January. The market was in a slight supply surplus of 6,800 mt in physical content, so manganese sulphate companies did not ship at low prices. According to SMM survey, the recovery of terminal consumption of domestic NEV was slower than expected in February, while the overseas demand was relatively stable, driving up Chinese high-nickel precursor output. Therefore, the battery-grade manganese sulphate demand from the ternary precursor companies grew slightly in February. On the supply side, some manganese sulphate enterprises which carried low in-plant stocks ramped up the production to reduce costs. Chinese high-purity manganese sulphate output reached 23,900 mt in February, up 70.71% MoM.