SMM Inclusive: China Iron Phosphate Output In March And Analysis

SHANGHAI, Apr 11 (SMM) - China produced 69,184 mt of iron phosphate in March, down 0.4% month-on-month, but up 106% year-on-year. The output surged 84% YoY in the first quarter. LFP plants slowed down order pick-up significantly in the second half of March, and some even cancelled their orders. As the operating rates of LFP enterprises kept falling, new orders for iron phosphate shrank, causing iron phosphate producers’ inventories to build up. On the cost side, the prices of phosphoric acid, the main raw material of iron phosphate, continued to fall in March. Under the dual effects of faltering demand and falling costs, iron phosphate prices dropped.