Electrolytic Manganese Prices Continue to Rise

  Recently, electrolytic manganese prices have continued to rise. Supported by a combination of factors, including rigid supply contraction, rising costs, and structural improvements in demand, prices are expected to continue increasing in the near term.

 

  On the supply side, environmental regulations and the dry season will continue until the first quarter of 2026, making it difficult for leading companies to release new capacity in the short term, and the tight supply situation is unlikely to ease quickly.

  On the cost side, strong support from international manganese ore prices makes them more likely to rise than fall, providing a solid cost floor for electrolytic manganese.

 

  On the demand side, steel mill restocking and the release of new energy battery capacity provide dual support.

 

However, current manganese alloy inventories in China remain at 349,500 tons, and these high inventory levels may limit the potential for price increases. At the same time, steel mills' pressure on profits and their willingness to lower prices may also limit the price increase. Electrolytic manganese prices are expected to fluctuate in the short term, and the key factors to watch going forward include power supply in major producing areas, manganese ore arrivals, and downstream procurement.