According to data monitored by SunSirs, as of January 31st, the price of high-quality power grade ferrous lithium phosphate was 43,000 RMB/ton. Overall, ferrous lithium phosphate showed a broad downward trend in January, with the mainstream price currently around 43,000 RMB/ton. The price in early January was 46,000 RMB/ton, and the price at the end of January was 43,000 RMB/ton. The price decreased by 6.52% for the entire month of January, putting pressure on both cost and demand. Ferrous lithium phosphate was moving forward under pressure.
Analysis review
In January, the price of ferrous lithium phosphate mainly experienced a narrow decline, with an overall decrease of 6.52% in January, reaching a drop of 3,000 RMB/ton. As of February 2nd, ferrous lithium phosphate was showing a continuous downward trend, mainly influenced by upstream lithium carbonate, passively following the decline. Upstream lithium carbonate was experiencing a cliff like decline, and ferrous lithium phosphate was under enormous cost pressure, with almost no support on the cost side. Downstream demand was significantly insufficient, and demand for power vehicles was slowing down. Insufficient demand combined with cost pressure, this had led to continuous price reductions by ferrous lithium phosphate manufacturers, a significant decline, and a continuous decrease in the operating load of enterprises. The industry's demand was difficult to improve, and market sentiment was low.
Commodity index: On February 1st, the chemical index was 866 points, a decrease of 1 point from the previous day, a decrease of 38.14% from the highest point in the cycle of 1,400 points (2021-10-23), and an increase of 44.82% from the lowest point of 598 points on April 8th, 2020. (Note: The cycle refers to 2011-12-01 present).
Market outlook
Ferrous lithium phosphate analysts from SunSirs believe that the market for ferrous lithium phosphate was mainly in a downward trend, and it is difficult for ferrous lithium phosphate to have a turning point in the short term.
