SMM

In October 2024, China's production of Mn3O4 increased both MoM and YoY, with a particularly noticeable increase in battery-grade Mn3O4. This trend is mainly attributed to a slight recovery in the LMO market. Mn3O4, with its cost advantages, has expanded its market share in the LMO raw material market, prompting related companies to adjust their production plans and increase output. By November, the LMO market is expected to stabilize, and the production growth of battery-grade Mn3O4 may stagnate, while the electronic-grade market still faces an oversupply issue, making improvement difficult. Overall, China's Mn3O4 production in November is expected to decrease slightly MoM.