磷酸铁锂龙头，宣布提价

Core Viewpoint - Recent price increase requests have been made by several leading lithium iron phosphate (LFP) companies, driven by supply-demand imbalances and rising raw material costs [1][2][11]. Price Adjustments - One leading LFP company announced a price increase of 3000 yuan (pre-tax) per ton for all its LFP products starting January 1, 2026 [1][9]. - Another company has already implemented a price increase of 3000 yuan per ton effective November 1, 2025, with existing contracts honored at previous prices [2][10]. Supply and Demand Dynamics - The LFP market is currently experiencing tight supply, with effective production capacity utilization exceeding 95%, and some leading companies operating at over 100% capacity [2][11]. - Despite high demand from the electric vehicle and energy storage sectors, companies face significant challenges in expanding production due to financial pressures, with an average industry debt ratio of 67% [2][11]. Industry Response to Competition - The LFP industry is responding to government and industry calls to avoid "involution" and harmful price competition, with initiatives to establish pricing based on cost indices [2][11]. - A research analyst noted that adjusting prices is a necessary step to transition from "scale competition" to "quality competition," aligning with national policies [2][11]. Cost Structure and Pricing Trends - According to a recent industry report, the average cost of LFP materials is estimated to be between 15,714.8 and 16,439.3 yuan per ton (pre-tax) for the first nine months of 2025 [3][12]. - Recent data shows that the spot price for power-type LFP has risen to 39,950 yuan per ton, while energy storage-type LFP has reached 36,950 yuan per ton, with daily increases of 100 yuan per ton [5][14]. Company Developments - Longpan Technology announced a significant increase in its LFP supply from 150,000 tons to 1.3 million tons, with an estimated total sales value exceeding 45 billion yuan [7][16]. - Hunan Youneng, another leading LFP company, indicated that price increases are based on market demand exceeding supply, particularly for new product lines [8][17]. Market Position - LFP batteries dominate the power battery sector, accounting for 81.5% of the installed capacity in the first three quarters of this year, reflecting a year-on-year growth of 62.7% [5][13]. - In the energy storage battery market, LFP's share is nearly 99.9%, highlighting its critical role in the industry [5][13]. Future Outlook - Despite the traditional seasonal slowdown in the first quarter, Hunan Youneng anticipates strong demand support from the energy storage market, which has shown robust growth since the second half of this year [8][17].