从规模竞争向质量竞争跨越 磷酸铁锂龙头纷纷提价

Core Viewpoint - Leading lithium iron phosphate (LFP) companies are seeking price increases due to rising costs and supply-demand imbalances in the industry [2][3][4] Price Adjustments - A leading LFP company announced a price increase of 3000 yuan/ton (excluding tax) for all its LFP products starting January 1, 2026 [2][3] - Another company implemented a price increase of 3000 yuan/ton (excluding tax) for its LFP products effective November 1, 2025, with existing contracts honored at previous prices [3] - The fluctuation in lithium carbonate prices, a key raw material for LFP, is directly impacting the sales prices of LFP products [3] Supply and Demand Dynamics - The LFP market is experiencing a supply shortage, with effective production capacity utilization exceeding 95% [4] - Some leading companies reported operating rates above 100% in the first three quarters, but supply has been insufficient since September [4] - The average debt ratio in the industry is around 67%, indicating significant financial pressure for expansion and supply maintenance [4] Industry Initiatives - The China Chemical and Physical Power Industry Association is advocating for a reconstruction of market pricing logic to curb "involution" and unhealthy competition [4][5] - The association's recent seminar revealed that the average cost of LFP materials ranges from 15,714.8 yuan/ton to 16,439.3 yuan/ton (excluding tax) [4] Shift in Competitive Strategy - Industry experts suggest a transition from "scale competition" to "quality competition" as a necessary step for sustainable development [5] - Companies are responding to market conditions by negotiating prices with clients, aiming to improve profitability and product competitiveness [5][6] Market Trends - The demand for LFP products is surging, particularly in the energy storage and electric vehicle sectors, with LFP batteries accounting for 81.5% of the power battery market in the first three quarters of the year [6][7] - The market share of Chinese companies in the global LFP supply chain is approximately 95% [7] Future Outlook - The LFP industry is expected to face structural challenges, with high-end capacity being scarce while low-end, outdated capacities may be phased out [8]