China's battery-grade manganese sulphate output stood at 29,000 mt in October, an increase of 21.85% MoM. According to SMM research, the long-term orders of mainstream manganese salt factories increased in October compared with September. As the new energy enterprises rushed to produce approaching the end of the year, the output of precursors increased. At the same time, the sales of new models improved, which increased the proportion of 5-series and 6-series precursors. Therefore, the demand for manganese picked up. In this scenario, the operating rates of many manganese sulphate factories gradually rose, and the overall inventory continued to decline.In November, as the traditional car companies are transferring to new energy vehicle companies, the production of precursors still has upside momentum. At the same time, the monocrystal high-voltage 6-series precursors are as good as the high-nickel precursors. Coupled with better cost efficiency, the output growth of 6-series precursor exceeds that of the 8-series precursor. As such, manganese salt factories are bullish about the manganese demand in the future. It is expected that the output of manganese sulphate in November will climb slightly to about 31,000 mt in physical content.
China has 90% of global supply.
E25 Price at posting:
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