史丹利：近期行业内磷酸铁开工率因下游需求较好而有所提升 但毛利较低

Core Viewpoint - The recent increase in the operating rate of iron phosphate in the industry is driven by strong downstream demand, but profitability remains low, with most companies focusing on cash flow preservation rather than significant profits [1] Industry Summary - The operating rate of iron phosphate has improved due to favorable downstream demand [1] - Profit margins in the industry are low, with only companies that have high yield rates and strong cost control achieving slight profitability [1] - Most companies are primarily focused on "earning depreciation and preserving cash flow" rather than generating substantial profits [1] Company Summary - The company has not started its iron phosphate production due to low profit margins and long payment terms from downstream customers [1] - Previous profits from refined phosphate have been sufficient to offset related earnings, influencing the decision to delay production [1]