The price of lithium iron phosphate, a key raw material for new energy and energy storage batteries, has doubled this year, with a 400kg batch now costing over 25,000 yuan compared to 10,000 yuan a year ago. Despite the significant price increase, demand remains strong, driven by robust exports of new energy vehicles and energy storage products. Additionally, the rising cost of upstream raw materials, particularly iron phosphate which constitutes about 30% of the production cost, has further contributed to the surge in lithium iron phosphate prices. AI
RANK_REASON Significant price increase for a key industrial material driven by market demand and supply chain factors. [lever_c_demoted from significant: ic=1 ai=0.0]
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