SMM

In November 2024, China's Mn3O4 production saw a slight decline MoM. The LMO market is currently in a destocking phase. Coupled with the previous price drop, market sentiment is relatively pessimistic, leading to a reduction in the procurement volume of raw materials. This trend has resulted in a downward adjustment in the production plans of battery-grade Mn3O4 enterprises. It is expected that by December, the LMO market will further weaken, and the production of battery-grade Mn3O4 may continue to decline. Meanwhile, the electronic-grade market is facing an oversupply situation, causing enterprises to be more cautious in their production. Overall, it is anticipated that China's total production of Mn3O4 will further decrease in December.