April 28 - On April 27, Xinyangfeng announced that its controlled subsidiary, Jingmen Xinyangfeng Zhonglin Phosphate Fertilizer Co., Ltd., plans to invest in the construction of a fine phosphorus chemical industrial park project and has signed the "Xinyangfeng Fine Phosphorus Chemical Industry Chain Project Contract" with the People's Government of Zhongxiang City. The total investment in the project is approximately RMB 3.2 billion, to be built in two phases, with main contents including a 1.5 million tons/year beneficiation plant, fine chemical upgrading and transformation, comprehensive utilization of phosphogypsum, and supporting projects for lithium iron phosphate.

Chempricehub evaluates phosphoric acid with a bullish/bearish score of -1: Xinyangfeng’s investment of RMB 3.2 billion to build a fine phosphorus chemical project, including fine chemical upgrading and transformation, is expected to increase phosphoric acid production capacity. The increase in supply may outpace demand growth, leading to market oversupply and exerting downward pressure on spot phosphoric acid prices, indicating a generally bearish impact.

Evaluation of lithium iron phosphate with a bullish/bearish score of -1: The project includes supporting construction for lithium iron phosphate, which will directly increase its production capacity. The new supply may intensify market competition and depress market prices. Considering the current supply-demand situation in the market, it is expected to have a generally bearish impact on spot lithium iron phosphate prices, with prices likely to face downward pressure.