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![[SMM Analysis] Multiple Positive Factors Converge, Post-Holiday Manganese Sulphate Market Maintains Strong Momentum](https://static.metal.com/price.metal.com/3.1.17/image/news-default.png)
During the National Day holiday, the manganese sulphate market exhibited the operational characteristics of "building momentum before the holiday and temporarily stabilizing after the holiday." On the raw material side, manganese ore shipments from major overseas production areas experienced transportation delays due to extreme weather, leading to tight availability of circulating supply in the domestic market. Traders generally maintained a reluctance to budge on prices. Although some plants attempted to drive down prices before the holiday, the average offer levels remained high. Meanwhile, the sulphuric acid market entered its traditional peak demand season, with industrial-grade sulphuric acid prices in east China rising by 8% compared to September. As demand from sectors such as fertilizers and chemicals continues to be released, there remains upside room for further price increases, driving up the production cost of battery-grade manganese sulphate by approximately 200 yuan per mt compared to September...
Lithium Sulfide Production Rose September and Rebound October China Leading Global Growth
In September 2025, global lithium sulfide production increased domestically but decreased overseas, with China up 2.52% MoM while overseas production fell sharply by 12.99%. A strong rebound is expected in October, driven primarily by domestic capacity ramp-up. The industry faces both high growth and batch stability challenges.
October 9: The SM2601 contract opened at 5,766 yuan/mt and closed at 5,768 yuan/mt, with a change of 0.00%. The daily highest price was 5,778 yuan/mt, and the lowest price was 5,730 yuan/mt. Trading volume was 153,351 lots, and open interest was 363,849 lots. Cost side, coke prices remained stable after the increase during the National Day holiday, and spot manganese ore prices also held steady, with cost support still in place. Supply side, alloy plants saw relatively small fluctuations in production, and the market was dominated by a wait-and-see sentiment, with low willingness to offer. Demand side, the market did not show the lively trading activity typical of the peak season, with rigid demand for SiMn alloy remaining stable, providing limited boost to SiMn market sentiment. Overall, the SiMn market is likely to continue fluctuating in the near term.
[SMM Chromium Daily Review: Market Operated Steadily After the Holiday, Inquiries and Transactions Awaited Release] October 9, 2025: The ex-factory price of high-carbon ferrochrome in Inner Mongolia was 8,500-8,600 yuan/mt (50% metal content) today, flat MoM from the previous trading day...
[SMM Weekly Review] Cobalt Sulphate Spot Prices Rose Sharply This Week
Spot cobalt sulphate prices rose significantly this week. Supply side, overseas cobalt prices continued to strengthen during the National Day holiday, and domestic smelters, bullish on the outlook, mostly held back offers and further raised their intended selling prices. Among them, enterprises producing cobalt sulphate from intermediate products raised their target prices to around 80,000 yuan/mt, while MHP and recycling enterprises also generally increased their target prices to approximately 75,000 yuan/mt. Demand side, some downstream ternary cathode precursor and Co3O4 enterprises, concerned about potential supply gaps, showed increased purchase willingness recently. However, as their own downstream orders are not fully locked in and the DRC's quota allocation policy remains uncertain, actual procurement remained cautious, and market transactions were still sluggish. Overall, driven by rising raw material costs and periodic downstream stockpiling demand, cobalt sulphate prices are expected to hold up well in the short term.
