Lithium iron phosphate prices double as demand remains strong

```htmlGolden Ten Data reported on June 21 that iron phosphate and lithium iron phosphate are important raw materials for new energy and energy storage batteries. Their prices have been rising steadily this year, and the market remains highly active. According to reporters, a package of about 400 kilograms of lithium iron phosphate now costs over 25,000 yuan, whereas a year ago the price was only 10,000 yuan. Despite the price having doubled, demand remains strong. In the finished goods warehouse of a lithium iron phosphate production factory, both new shelves and the floor are packed with products. Over 90% of the lithium iron phosphate produced by this company is supplied to leading new energy vehicle manufacturers, which is the primary source of their growth in order volume this year. Company executives told reporters that booming exports of new energy vehicles and energy storage products are continuously driving up demand for lithium iron phosphate, making it a key reason for this round of price increases. In addition to downstream demand stimulation, rising prices of upstream raw materials are another critical factor behind the current high prices of lithium iron phosphate. It is reported that lithium iron phosphate is mainly produced by mixing iron phosphate, lithium carbonate, and glucose, with iron phosphate accounting for around 30% of the total raw material cost. Since the beginning of this year, the price of iron phosphate has risen sharply, increasing the overall production cost of lithium iron phosphate.```