铁锂：停产检修下的疯狂挺价

Core Viewpoint - The article discusses recent developments in the lithium iron phosphate (LFP) industry, highlighting production adjustments by companies and the implications for pricing and profitability in the sector [1]. Group 1: Production Adjustments - Hunan YN and Wanrun New Energy announced maintenance on certain production lines, affecting output by 15,000 to 35,000 tons and 5,000 to 20,000 tons respectively [1]. - The high nominal operating rate in the LFP industry reached 89% in November, with leading companies operating at over 100% capacity, raising safety production concerns [1]. Group 2: Pricing and Profitability - The profit margins in the LFP segment are thin, with YN's long-term profit at 1,000 yuan per ton, while most others are either marginally profitable or operating at a loss [1]. - There is a significant discrepancy between SMM pricing (used for downstream settlements) and actual spot/futures prices, leading to mismatches in operating costs and capital expenditures [1]. - The industry is experiencing a turning point, as the maintenance reflects a strong price support stance, with the LFP industry alliance issuing average cost and price increase notices [1].