According to the spot quotation of SMM, as of December 2, the average spot price of power lithium iron phosphate has successfully exceeded 90, 000 yuan / ton.
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Caixin Securities pointed out that with the continuous decline of subsidies, battery manufacturers are facing the pressure to reduce costs, and the performance-to-price ratio of lithium iron phosphate batteries has highlighted, leading to a resurgence of their installed capacity, with the proportion of installed units rising from 13% in February 2020 to 60.8% in September 2021. Caixin Securities expects that in the absence of a major breakthrough in battery technology, lithium iron phosphate will maintain its cost advantage for a long time. As many car companies represented by Tesla choose lithium iron phosphate batteries for matching, it is expected that the proportion of lithium iron phosphate installed in China will be 60% in 2025, while overseas will also reach 20%, and the medium-and long-term permeability of lithium iron phosphate in the world is expected to reach 35%.
On the demand side, Huachuang Securities expects that the global demand for lithium iron phosphate production will reach 2.17 million tons in 2025, with a compound growth rate of 60% in four years, and the corresponding market space is expected to reach 83.8 billion yuan.
According to foreign media reports, SNE Research, a research institution, revealed on November 25 that from January to September this year, the use of positive materials for electric vehicle batteries sold in 80 countries around the world totaled 383168 tons, an increase of 132.6 percent over the same period last year. Among them, lithium iron phosphate batteries are the most widely used, reaching 99589 tons, an increase of 259.2 percent over the same period last year, and their market share rose to 26.0 percent from 16.8 percent in the same period last year, an increase of nearly 10 percentage points.
It is reported that 90% of lithium iron phosphate battery enterprises are Chinese enterprises. China has an absolute advantage in the production of lithium iron phosphate batteries and is expanding the market share of electric vehicle batteries by virtue of price advantages. As Tesla, Daimler, Volkswagen, Ford and Apple are discussing the expansion or re-use of lithium iron phosphate batteries, it is expected that lithium iron phosphate batteries will increase more rapidly in the future.
Battery network learned that at present, a number of lithium iron phosphate materials and battery head manufacturers in China have indicated that there are sufficient orders on hand, and the current production capacity is in short supply. A head battery company said that the overseas mainframe factories contacted at present are considering the use of lithium iron phosphate models, hoping to match them overseas, and the company may build factories overseas to match lithium iron phosphate.
The optimistic increase in market demand has boosted the investment enthusiasm of enterprises in the industrial chain. in the last week (November 25-December 2), a number of listed companies announced plans to build lithium iron phosphate projects:
On December 1st, Longbai Group (002601) announced that the company and the government of Nanzhang County recently signed the "Investment contract for Xiangyang Titanium Industry extension and mending chain Investment Project". It is planned to invest in Nanzhang County with an annual production capacity of 150000 tons of battery-grade lithium iron phosphate and titanium dioxide post-treatment expansion project (200000 tons / year), with a total investment of 3 billion yuan.
On November 30th, Dangsheng Science and Technology (300073) announced that the company and Zhongwei (300919) will invest in the construction of integrated industrial projects in Guizhou, including phosphorus resources development, phosphorus chemical industry, iron phosphate, lithium iron phosphate, resource recycling and supporting industrial projects. the total production capacity of the project is not less than 300000 tons / year of iron phosphate, lithium iron phosphate and related phosphorus resources development, phosphorus chemical supporting projects.
On November 27th, the foundation laying ceremony of the production base of lithium ion power battery cathode materials of Anhui Fengyuan Lithium Energy Technology Co., Ltd., a joint venture company of Fengyuan (002805), was held in Anhui Anqing Economic Development District. The planned cathode material production base project covers a total area of 132mu, with a construction area of 47900 square meters, with a total design capacity of 50, 000 tons of lithium iron phosphate per year. The project is implemented in two phases, with a construction scale of 25000 tons per year.
On November 26th, Yuntianhua (600096) announced that in order to speed up the construction of 500000 tons / year iron phosphate battery new material precursors and supporting projects, the company plans to invest in the Caopu Chemical Park of Anning Industrial Park in Yunnan Province to set up a wholly-owned subsidiary Yunnan Yuntian Energy New Materials Co., Ltd. (tentative name, subject to the name approved by the administrative department for industry and commerce), and the company will contribute 1 billion yuan in cash. According to the progress of the project, it will be used to undertake the construction and operation of the new material precursor and supporting project of 500000 t / an iron phosphate battery.
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