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Previously, a report released by the China Railway Association mentioned that the demand for ternary lithium-ion batteries in the market had decreased from a high of 76% in the first quarter of last year to 48% in December, while the demand for lithium iron phosphate increased from 23% to 41% during the same period.

In fact, in addition to the new energy vehicle market, the popular two wheeled vehicle market and energy storage market in the past two years have also provided significant incremental demand for lithium iron phosphate.

Some practitioners of lithium iron phosphate at the head of the industry have stated that the sudden surge in demand has caught the company off guard. In recent months, orders have been full and the machines have been operating at an overload. In fact, there were some media reports in February this year that many mainstream lithium iron phosphate factories have suspended their quotations and stopped accepting external orders.

This tense situation of supply and demand may continue for some time, "said an employee. Many lithium iron phosphate factories have actually implemented expansion projects, but the new production has not been released so quickly, and it may take several months.

Data shows that the production of lithium iron phosphate in January this year has significantly increased by 342.7% compared to last year, reaching 20630 tons, setting a historical high, but still unable to meet downstream demand. The actual shipment volume of some leading companies such as German Nano and Beiteri is greater than the production volume, resulting in a significant decrease in inventory.

The booming market demand for lithium iron phosphate has also attracted cross-border participation from some chemical companies. In February of this year, CNNC Titanium White announced that it would invest 12.1 billion yuan in the name of its subsidiary, Dongfang Titanium Industry, to build a project with an annual output of 500000 tons of lithium iron phosphate. However, the company's operation attracted the attention of the exchange and was required to explain the rationality of cross-border projects.

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