According to data from the business agency, on July 27, the price of phosphoric acid rose by 6.8% from the previous day, ranking first in the commodity increase list.
According to statistics, since July 17, the cumulative increase in phosphoric acid has exceeded 15%.
Phosphoric acid is one of the raw materials for the manufacture of lithium iron phosphate. In the first half of this year, the installed capacity of lithium iron phosphate batteries in the installed capacity of new energy vehicles in the Chinese market rose to 42%, with a growth rate of 369.7%.
Battery China pointed out that due to the decline of new energy vehicle financial subsidies, car companies have increasingly strong demand for cost reduction in the battery sector. Car companies have launched popular models of lithium iron phosphate versions. According to Soochow Securities’ calculations, in 2025 The global demand for lithium iron phosphate will reach about 2.2 million tons, and the five-year compound growth rate will exceed 70%.
In addition, Founder Securities said that in addition to the downstream demand for lithium iron phosphate, the price of phosphoric acid, the raw material for phosphoric acid, rose due to power curtailment in Yunnan, which also drove the price of phosphoric acid.
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