SMM February 24 Automotive Battery Market Summary [SMM Evening Briefing]

SMM February 24: Dealers in Hunan reported that end-use consumption in the automotive battery market was moderate. During the Chinese New Year holiday, battery inventory digestion was limited. After the holiday, only selective models required restocking based on demand. Meanwhile, wholesale prices for batteries remained unchanged compared to pre-holiday levels, such as 6-QW-45Ah at 200-220 yuan per unit. Manufacturers in Hebei indicated that demand for automotive batteries during the Chinese New Year holiday was flat. Currently, the factory has not resumed operations and is expected to start production tomorrow. Additionally, the company had stockpiled lead ingots before the holiday, and initial production line operations will focus on digesting existing inventories. Manufacturers in Zhejiang reported that with the end of the Chinese New Year holiday, the factory officially resumed operations today. However, as non-local workers have not fully returned, production lines still need to gradually ramp up. There are no immediate plans to purchase lead ingots in the coming days.