1、 Price trend
| Gamma-PGA (gamma polyglutamic acid) |
As of June 23rd, the price of high-performance power grade lithium iron phosphate is 61000 yuan/ton. Currently, the price of lithium iron phosphate is declining narrowly, with a 0.5% decrease compared to the same period last week. The industry average operating rate remains above 85%, and top integrated enterprises maintain 95% -100% full production.
2、 Market analysis
In terms of the market, the supply of goods is highly concentrated in the top integrated large factories, and there are very few available spot goods for small and medium-sized traders. There is a clear price stratification in the market, and the price difference continues to widen. Energy storage special materials are priced at 57000-60000 yuan/ton, conventional power type materials are priced at 6020-65300 yuan/ton, and high-pressure solid high-end fast charging materials are priced at 70000 yuan/ton. The premium of high-end goods continues to rise.
Upstream: The short-term slight decline is only followed by the pullback of lithium carbonate. Currently, the spot price of lithium carbonate has fallen by nearly 4000 yuan/ton within the day. Downstream point price purchases have slightly increased, driving a slight downward adjustment of conventional power lithium iron, but the decline is limited. The cost of phosphorus and sulfur has formed a strong bottom support, and there is no basis for a deep decline.
In terms of demand, the current market has formed a high prosperity pattern of new energy vehicles and energy storage dual wheel drive, with strong support for demand. The downstream market has obvious characteristics of “increasing demand and locking in orders”. The penetration rate of new energy passenger vehicles in China remains above 60%, and the proportion of lithium iron phosphate batteries in the power battery installation structure has exceeded 81%. In May, the domestic export of new energy vehicles was 446000, a year-on-year increase of 110.4%. The demand for low-priced lithium iron models in overseas ASEAN and European markets continues to increase, and the production schedule of top battery factories steadily increased in June. Commercial vehicles, heavy-duty trucks, and hybrid models continue to switch to the iron lithium route, with stable growth. In the first quarter of 2026, domestic energy storage lithium battery shipments surged by 139% year-on-year. Large scale energy storage on the grid side, industrial and commercial energy storage, overseas household storage, and AI data center backup batteries almost all use lithium iron phosphate. Centralized bidding for energy storage at home and abroad has been implemented, and energy storage material orders have increased by nearly 50% year-on-year, becoming the core increment driving iron lithium demand.
3、 Future forecast
Analysts from Shengyi Society believe that the short-term supply margin of upstream lithium carbonate has improved, and lithium salt prices may continue to experience a slight correction, which will slightly drag down the spot price of lithium iron. In mid to late July, some new low-end production capacity will gradually climb, and the supply of conventional energy storage materials will increase slightly. The cost support of lithium iron phosphate is insufficient, and it is expected that lithium iron phosphate will maintain its current trend in the short term.
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