SMM: under the beautiful vision of "30 carbon peak, 60 carbon neutralization", the promotion of new energy vehicles has been mentioned repeatedly. By the end of 2020, the cumulative promotion of new energy vehicles in China has exceeded 5.5 million, ranking first in the world for many years in a row. In addition, according to Shanghai Insurance data, a total of 2.058 million new energy passenger vehicles were insured from January to October 2021, a year-on-year increase of 285%. From the battery type point of view, the first ten phosphate lithium iron battery installation continues to steadily exceed three yuan, a total of 4.30GWH, accounting for 77%.
Therefore, under the background of the soaring demand for new energy vehicles and the continuous increase in the proportion of lithium iron phosphate batteries, the price of lithium iron phosphate continues to rise. As of December 3, according to the historical price of SMM, the average spot price of power lithium iron phosphate has reached 90, 000 yuan / ton, a three-year high.
"Click to view the historical price of SMM Metals.
According to SMM, the price of 90, 000 yuan per ton is far from over. SMM believes that new energy vehicle demand volume superimposed iron lithium battery application in new energy vehicles increased in the fourth quarter, iron lithium supply gap is still there, the overall imbalance between supply and demand of lithium iron phosphate continues, will still form a support for the price of lithium iron phosphate, it is expected that the price of lithium iron phosphate will continue to rise with the price of raw materials in the future. "View details
Of course, not only lithium iron phosphate, but many kinds of battery raw materials, including battery-grade lithium carbonate, lithium hydroxide and ternary precursors, are rising rapidly under the favorable environment. In order to stabilize costs and seize the opportunity, lithium power supply chain enterprises have also begun to improve the layout of their respective links.
In terms of lithium iron phosphate, recently, including Longbai Group, Zhongwei shares, Fengyuan shares, Chuanfa Dragon Python, Bank of China Cashmere Industry and other enterprises have been launched one after another, and going back further, German Nano, Longyi Technology, Batian shares, Huayou Cobalt and other enterprises have already released their various decisions on lithium iron phosphate.
Among them, Longbai Group announced on December 1st that it had invested a total of 3 billion yuan to invest in the construction of a battery-grade lithium iron phosphate project with an annual production capacity of 150000 tons in Nanzhang County, while Zhongwei shares said on November 30 that it would invest in Guizhou to plan and build iron phosphate, lithium iron phosphate and related phosphorus resources development and phosphorus chemical supporting projects with a total production capacity of not less than 300000 tons per year.
On November 19th, Bank of China Cashmere Industry announced that it is expected to invest 2 billion to build an 80, 000-ton lithium battery cathode material lithium iron phosphate project; on the same day, Chuanfa Dragon Python announced plans to build a project with an annual production capacity of 200000 tons of new energy materials in the de An Industrial Park, including 200000 tons of lithium iron phosphate and 200000 tons of iron phosphate production line.
As for Fengyuan shares, although no recent expansion of lithium iron phosphate has been carried out, it was mentioned on November 25 that its wholly-owned subsidiary Fengyuan Lithium Energy signed a cooperation agreement with Penghui Energy. Penghui Energy agreed to purchase lithium iron phosphate and lithium nickel cobalt manganate (nickel 5 series, high nickel 8 series) products from Fengyuan lithium energy from December 2021 to December 2022, with a total contract amount of about 800 million yuan. All this is enough to prove the popularity of lithium iron phosphate.
Even SNE Research, a foreign research institution, reported that in the past 1-9 months, lithium iron phosphate batteries were most widely used in electric vehicle batteries sold in 80 countries around the world, and its market share increased to 26.0%, an increase of nearly 10 percentage points compared with the same period in 2020. Not only that, 90% of lithium iron phosphate battery companies come from China, and with the expansion or re-introduction of lithium iron phosphate battery programs for well-known cars such as Tesla, Volkswagen and Ford, lithium iron phosphate is expected to increase more rapidly in 2021.
Huachuang Securities expects the market demand for global lithium iron phosphate production to rise to 2.17 million tons in 2025, with a compound growth rate of 60 per cent in four years. Caixin Securities also boldly predicted that in the absence of a major breakthrough in battery technology, lithium iron phosphate will maintain its cost advantage for a long time. Under the background that a group of car companies led by Tesla chose lithium iron phosphate for matching, it is estimated that the installed capacity of lithium iron phosphate in China will reach 60% in 2025.
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