In February 2025, the production of Mn3O4 saw a slight increase MoM and a significant YoY growth rate.
This trend was mainly due to most enterprises resuming normal production after the Chinese New Year, leading to an increase in market supply. Meanwhile, the inventory in the downstream LMO market remained low, creating some just-in-time procurement demand, which boosted the production enthusiasm for battery-grade Mn3O4, with the production schedule remaining relatively stable.
It is expected that by March 2025, the LMO market will further rebound, with increased procurement demand. Additionally, the rebound in Mn3O4 prices in February also enhanced enterprises' production motivation, and the production schedule is expected to grow further. Considering these factors, the production of Mn3O4 in March is projected to continue to increase slightly MoM while maintaining the YoY growth rate.
