(SMM Weekly Review: Supply and demand for LFP remain robust in early May, and demand from energy storage end-users starts to grow)

SMM news on May 11:
[Iron Phosphate] Iron phosphate prices rose slightly, and May orders showed a good momentum.

Recently, iron phosphate prices have been slightly adjusted upwards, and the ex-factory quotes for enterprises have been raised by about 100-200 yuan. The focus of the transaction price is around 10.3-10.6 thousand yuan. The price of raw material phosphoric acid remained stable after the holiday, but the ex-factory price of leading phosphoric acid enterprises has reached about 6500-6600 yuan, and the delivered price will still be high. Therefore, iron phosphate enterprises have a strong willingness to hold their offers firm. In addition, due to the recent weak operation of the titanium dioxide market, it may affect the supply of ferrous sulfate, and then the price will fluctuate; the focus of hydrogen peroxide prices remains firm. Due to the cost suppression of LFP, the actual increase in iron phosphate is small, and it is expected that prices will be difficult to rise continuously. In May, the market demand for iron phosphate will increase steadily, and enterprises have good expectations for production scheduling.

The price of iron phosphate this Friday is 10200-10920 yuan per mt, with an average price of 10560 yuan per mt, up 10 yuan from a week ago.

[LFP] In May, the demand for iron lithium energy storage increased, and enterprises were well prepared for the volume increase in Q2.

Recently, the LFP market has been relatively stable, with no significant price fluctuations. The raw material end of lithium carbonate fluctuates, and the price of iron phosphate has been slightly adjusted upwards. The trend of iron lithium prices rises and falls based on fluctuations in raw material prices. Some integrated iron lithium enterprises have external procurement plans as adjustments to reduce the production cost of iron phosphate. On the demand side, market feedback indicates that there will be an increase in energy storage in May due to the promotion of mid-year grid connection demand, while power demand will remain stable. Overall, the iron lithium market remains optimistic about expectations for May.