How does China's heavy reliance on imported manganese ore affect manganese dioxide pricing?

How does China's heavy reliance on imported manganese ore affect manganese dioxide pricing?
China's manganese ore reserves are large but low grade, with much of the resource hard to extract, so import dependence runs around 80%. In 2024 imports reached about 29.29 million tonnes, sourced mainly from South Africa, Ghana and Gabon. After 2025 the market faces rising supply and demand, but supply is more elastic. Australia's output has recovered, South Africa battles high power costs and logistics, and Gabon's rail capacity remains a constraint. On the demand side, steel stays stable, electrolytic manganese output grew over 20%, and battery-grade manganese materials are expanding fast. Ore prices have been firm, with traders holding back offers.