SHANGHAI, Dec 17 (SMM) – Operating rates at lead-acid battery producers across Jiangsu, Zhejiang, Jiangxi, Hubei and Hebei averaged 66.32% in the week through December 14, down 0.88 percentage point from the previous week, SMM data showed.
Rates across plants in Hubei fell 6.89 percentage points to 77.91% last week as large plants who were close to their annual production targets cut production to rein in inventories of finished goods amid weakening demand across automotive battery markets. The end of battery stockpiling for the holiday sales season across western nations and uncertainties over US-China trade tension held some traders back from purchasing batteries, which also prompted battery producers in Hubei to cut production.
Rates in Jiangsu climbed 1.05 percentage points to 53.14% last week as low battery stocks and shipment suspension for the Chinese New Year holiday drove some producers to raise output after they reduced output in late November.
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