China's exports of lithium iron phosphate (LFP) in May 2026 reached 7,625.4 tonnes, up 29.3% month-on-month from April and surging 710.0% year-on-year from May 2025, setting a new high for a single month this year.

The settlement mechanism for LFP is evolving, but the “lithium + phosphoric acid” dual linkage covers only a portion of costs and carries structural flaws such as process mismatch and lagging price references. SMM believes the industry should move directly to the ultimate “lithium carbonate + iron phosphate” solution. The SMM iron phosphate price is a settlement benchmark recognized by both upstream and downstream players.

In May 2026, China imported 131,000 mt of phosphate ore, down 36.4% from April, with the average price easing 2.6% to $93/mt.

【Phosphorus Chemicals: Wengfu Raises Wet-Process 85% Phosphoric Acid Price by RMB 500 to RMB 12,100/ton】 On June 15, 2026, according to SMM, Wengfu increased its ex-factory price for wet-process 85% phosphoric acid by RMB 500 to RMB 12,100/ton. Driven by sharp fluctuations in sulfur prices, this hike is intended to ease tight supply pressures and curb downstream demand. A total of 800,000 tonnes of capacity at the Dazhou and Shanghang bases remain offline. Outlook: Significant geopolitical influences are expected to keep prices volatile in the short term. The rise in phosphoric acid prices further pushes up production costs for iron phosphate and lithium iron phosphate (LFP).

On June 3, the Yichang Municipal Bureau of Ecology and Environment issued a public notice soliciting comments on the draft environmental impact report for the 300,000-ton waste lithium iron phosphate (LFP) battery recycling project of Yichang Brunp Recycling Technology Co., Ltd. This project is an expansion, with a total investment of 1,065.5119 million yuan. Upon completion, the project will have an annual processing capacity of 300,000 tons of waste LFP battery packs, including waste LFP power battery packs, battery modules, battery cells, battery powder, electrode sheet powder, and related materials.

Zeekr Korea unveiled the premium midsize electric SUV “7X” in South Korea and will begin full-scale sales in the second half of this year. In South Korea, the model will be offered in three trims: Pro, Max and Ultra. The Pro trim is equipped with Zeekr’s self-developed 75 kWh lithium iron phosphate (LFP) “Golden Battery.” The Max and Ultra trims are equipped with 100 kWh high-performance nickel-cobalt-manganese (NCM) batteries supplied by CATL. The Pro and Max trims each feature a single electric motor, delivering a maximum output of 421 hp and maximum torque of 45 kgf·m. Their certified driving ranges are 375 km and 483 km, respectively. The Ultra trim is an all-wheel-drive (AWD) model based on a dual-motor system, with motors mounted on the front and rear axles. It delivers up to 645 hp and maximum torque of 72.4 kgf·m, with a maximum driving range of 440 km.