For the Quarter Ending December 2025
North America
•The North American Manganese Sulphate Price Index showed a firm to mildly bullish trend during Q4 2025, supported by steady demand from battery materials, fertilizers, and animal nutrition sectors.
•The Production Cost Trend remained elevated throughout the quarter, influenced by higher manganese ore prices, increased processing costs, and sustained freight expenses across the region.
•The Demand Outlook stayed positive, driven by consistent consumption from lithium-ion battery precursor manufacturing and stable demand from agricultural micronutrient applications.
Why did the price of Manganese Sulphate change in December 2025 in North America?
•The Manganese Sulphate Price Index increased in December 2025 due to restocking activity by battery material producers, continued high raw material costs, and limited spot availability caused by logistical constraints.
•The Price Forecast for early 2026 indicates a stable to slightly firm market, as demand from energy storage and electric vehicle supply chains continues to support pricing.
APAC
• In China, the Manganese Sulphate Price Index rose by 6.25% quarter-over-quarter, driven by higher costs.
• The average Manganese Sulphate price for the quarter was approximately USD 481.67/MT, per market sources.
• Manganese Sulphate Spot Price remained thin as contract sales absorbed volumes, constraining open market liquidity.
• Manganese Sulphate Production Cost Trend rose on firmer sulphuric acid and ore, supporting seller offers.
• Manganese Sulphate Demand Outlook appears cautious before holidays, limiting upside reflected in near-term Price Forecast.
• Port congestion and export complexities raised logistical friction, while inventories remained adequate but increasingly earmarked.
• Major producers prioritized contractual deliveries, limited spot selling, and defended pricing to preserve margins firmly.
• Near-term Manganese Sulphate Price Forecast anticipates modest volatility, with recovery potential as restocking resumes soon.
Why did the price of Manganese Sulphate change in December 2025 in APAC?
• Higher feedstock costs, notably sulphuric acid and manganese ore, increased conversion expenses, supporting seller pricing.
• Long-term contract execution absorbed available volumes, constraining spot supply and reducing buyer negotiating leverage materially.
• Logistics, including port congestion and export constraints, and cautious downstream procurement limited December spot demand.
Europe
• In Russia, the Manganese Sulphate Price Index rose by 2.38% quarter-over-quarter, driven by tighter imports.
• The average Manganese Sulphate price for the quarter was approximately USD 674.33/MT, including logistics adjustments.
• Manganese Sulphate Spot Price firmed in December; Chinese export availability tightened and buyers accelerated purchases.
• Manganese Sulphate Price Forecast suggests correction into Q1 2026 as imports normalize and inventories rebuild.
• Manganese Sulphate Production Cost Trend rose on ore premiums and weaker ruble, increasing landed costs.
• Manganese Sulphate Demand Outlook improved due to battery-sector ramp-ups and fertilizer restocking ahead of spring.
• Manganese Sulphate Price Index volatility reflected thin Saint Petersburg stocks and import timing disruptions recently.
• Major domestic plants operated reduced workloads while export demand supported higher offers, limiting spot availability.
Why did the price of Manganese Sulphate change in December 2025 in Europe?
• Tight Chinese export availability reduced shipments, creating immediate supply shortfalls and upward pressure on imports.
• Rising ore premiums combined with weaker ruble elevated landed costs, contributing to higher imported offers.
• Buyers front-loaded purchases ahead of maintenance and banking restrictions, accelerating demand and tightening port inventories.
For the Quarter Ending September 2025
North America
• In United States, the Manganese Sulfate Price Index rose quarter-over-quarter in Q3 2025, influenced by strengthening production cost drivers.
• Production costs increased, with CPI rising 3.0 percent in September 2025 and PPI up 2.6 percent in August 2025.
• Natural gas feedstock costs strengthened year-over-year in Q3 2025, alongside increased industrial electricity costs in August 2025.
• Manganese Sulfate demand faced headwinds as industrial production grew only 0.1 percent year-over-year in September 2025.
• Consumer confidence declined to 94.2 in September 2025, indicating potential bearish pressure on end-use markets.
• Retail sales increased 5.42 percent year-over-year in September 2025, offering some indirect demand support.
• Farm profitability weakened in 2025, negatively impacting Manganese Sulfate demand in the agricultural sector.
• The Manganese Sulfate price trend reflected rising input costs amidst mixed demand signals during Q3 2025.
Why did the price of Manganese Sulfate change in September 2025 in North America?
• Production costs rose due to natural gas strengthening and industrial electricity increases in Q3 2025.
• Weak industrial production (0.1% in September 2025) and declining consumer confidence tempered demand.
• Rising CPI (3.0% in September 2025) and PPI (2.6% in August 2025) contributed to overall cost pressures.
APAC
• In China, Manganese Sulfate Price Index remained stable in Q3 2025, supported by robust industrial output.
• Demand was bolstered by 6.5% industrial production growth year-over-year in September 2025.
• Production costs faced upward pressure from increased sulfuric acid export prices in Q3 2025.
• Manganese ore spot prices fluctuated downward in Q3 2025, influencing Manganese Sulfate production costs.
• China's power battery output surged in Q3 2025, driving Manganese Sulfate demand for EVs.
• The Manufacturing Index contracted in September 2025, indicating reduced industrial activity and raw material demand.
• Consumer confidence at 89.6 in September 2025 suggested pessimism, impacting end-use applications.
• Sulfuric acid inventories tightened by late Q3 2025, contributing to upward feedstock cost pressure.
• The Manganese Sulfate Price Forecast suggests stability, balancing strong industrial demand against broader macroeconomic deflationary pressures.
Why did the price of Manganese Sulfate change in September 2025 in APAC?
• Robust industrial production, up 6.5% year-over-year in September 2025, supported demand.
• Downward fluctuating manganese ore spot prices in Q3 2025 eased some production cost pressures.
• Tightening sulfuric acid inventories and rising export prices in Q3 2025 increased feedstock costs.
Europe
• In Germany, Manganese Sulfate Price Index fell Q3 2025, driven by weak demand and lower production costs.
• Manganese Sulfate production costs decreased in September 2025, influenced by a -1.7% Producer Price Index year-over-year.
• Demand faced headwinds as Germany's industrial production declined 1.0% year-over-year in September 2025.
• The Manufacturing Index contracted in Q3 2025, indicating reduced industrial activity and lower Manganese Sulfate demand.
• European sulfuric acid prices declined moderately in September 2025 due to oversupply, impacting feedstock costs.
• General inflation, indicated by 2.4% CPI in September 2025, exerted upward pressure on operational costs.
• Retail sales increased 0.2% year-over-year in September 2025, offering slight support for consumer-driven applications.
• Stable unemployment at 6.3% in September 2025 provided a neutral signal for consumer spending and related demand.
• Export weakness persisted for the German chemical industry in Q3 2025, limiting trade opportunities.
Why did the price of Manganese Sulfate change in September 2025 in Europe?
• Germany's industrial production declined 1.0% in September 2025, weakening Manganese Sulfate demand.
• European sulfuric acid prices declined in September 2025 due to oversupply, reducing production costs.
• The Producer Price Index (PPI) decreased 1.7% in September 2025, lowering overall manufacturing expenses.
