磷酸铁锂行业正经历两三年苦日子之际，新一轮扩产潮或已到来。近期，三个大型磷酸铁锂项目公布了最新进展，投资额合计超 130亿元。 邦普时代新一代磷酸铁锂项目投产 2025年12月29日，湖北宜昌邦普时代45万吨/年新一代磷酸铁锂项目投产。 该项目是宁德时代邦普全链条一体化产业园项目的子项目，是邦普"首个四代磷酸铁锂技术"战略项目，总投资56亿元，预计年产 值145亿元。 项目将建成3个生产车间、6条生产线，产能45万吨/年，单个车间面积达4万多平方米。项目生产的新一代磷酸铁锂压实密度更 高，以其作为正极材料的新能源动力电池充电速度更快、续航更长、低温性能更佳。 富临精工：拟建年产50万吨高端储能用磷酸铁锂项目 富临精工1月5日晚间公告，子公司江西升华新材料有限公司拟与内蒙古自治区鄂尔多斯市伊金霍洛旗人民政府签订《投资合作协 议》，江西升华拟在伊金霍洛旗蒙苏经济开发区投资建设年产50万吨高端储能用磷酸铁锂项目，预计总投资金额60亿元。 年产50万吨高端储能用磷酸铁锂项目分两期建设，每期计划年产25万吨磷酸铁锂材料，总投资合计约60亿元。 富临精工表示，该项目是基于储能市场对高性能磷酸铁锂电池的增量需求，加快推进江 ...

Core Viewpoint - The lithium iron phosphate (LFP) industry is facing significant operational pressure due to rising raw material costs and challenges in passing price increases to downstream battery manufacturers, leading to collective production cuts among major companies in the sector [2][4]. Group 1: Production Cuts - Five major LFP companies, including Wanrun New Energy and Hunan Youneng, announced production cuts scheduled for January 2026, with reductions ranging from 35% to 50% [2][3]. - Long-term contracts ("long orders") provide some market security for LFP companies, but challenges remain in transmitting raw material price increases [2][4]. - The collective production cuts are seen as a necessary measure to support pricing amid unfavorable market conditions [4][5]. Group 2: Market Dynamics - The average market price for LFP in November was 14,704.8 yuan per ton, while production costs ranged from 16,798.2 yuan to 17,216.3 yuan per ton, indicating a widening gap between costs and prices [5]. - Despite high demand and increased operational rates, most LFP companies are still operating at a loss, with only a few exceptions like Hunan Youneng and Fulian Precision [5][6]. - The industry is characterized as being in a "sandwich" position, squeezed by rising raw material costs and resistance from downstream customers to accept price hikes [2][5]. Group 3: Expansion Trends - A new wave of capacity expansion is emerging in the LFP sector, with companies like Ningde Times and Wanhua Chemical investing heavily in new production projects [7][8]. - Ningde Times' subsidiary, Bangpu Recycling, launched a new LFP project with an annual capacity of 450,000 tons, while Wanhua Chemical plans to build a 650,000-ton LFP project in Shandong [7][8]. - The influx of new entrants and expansion by existing players raises concerns about potential oversupply in the market, especially as the industry has not fully recovered from previous losses [7][8].