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The strong demand has directly led to an increase in the price of lithium iron phosphate. After the first monthly sharp drop in prices in November, the average spot price of power type lithium iron phosphate exceeded 90000 yuan/ton in December. According to data released by Shanghai Steel Union, on December 13th, lithium iron phosphate rose by 4500 yuan/ton.

Multiple companies expanding production of lithium iron phosphate

Looking forward to the prospects of lithium iron phosphate, more and more companies are actively expanding their production of lithium iron phosphate.

On the evening of December 9th, Zhongwei Shares announced that the company's board of directors had reviewed and approved the "Proposal on Signing an Investment Agreement with the People's Government of Kaiyang County". The total investment of this project is about 10 billion yuan, and it is planned to build an integrated production line for 200000 tons of iron phosphate and lithium iron phosphate materials annually.

On November 30th, Zhongwei Co., Ltd. stated that the company will invest and construct a total production plan of no less than 300000 tons/year of iron phosphate, lithium iron phosphate, and related phosphorus resource development and phosphorus chemical supporting projects with Dangsheng Technology in Guizhou.

On December 8th, Taihe Technology announced on the interactive platform that its wholly-owned subsidiary Taihe New Energy Materials (Shandong) Co., Ltd. has completed the approval process for the construction of a 10000 ton annual production of lithium iron phosphate high-end cathode material project.

On December 3rd, Microelectronics Co., Ltd. signed a "Cooperation Agreement for Lithium Iron Phosphate Project" with Tuo Anshi Company, Anshi New Energy Partnership, Wu Xuefeng, and others to jointly invest in Jiangsu Youanshi Battery Materials Co., Ltd.

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