SMM May 18: Dealers in Zhejiang reported that end-use consumption in the e-bike lead-acid battery market remained sluggish, with retailers purchasing cautiously and restocking cycles extending to over half a month. Currently, battery wholesale market selling prices remained unchanged, with the main model 48V12Ah at 300 yuan/set. Manufacturers in Jiangsu reported that the off-season trend in the e-bike lead-acid battery market intensified, with May orders continuing to weaken. To ease inventory pressure, factory operating rates had been reduced to 70%, and raw material lead was purchased as needed only. Manufacturers in Anhui reported that replacement demand in the e-bike lead-acid battery market was poor, while OEM orders for complete vehicles were moderate. Currently, factory operating rates were maintained at 80-90%. Additionally, as lead ingot supply was tight, procurement extended to surrounding provinces, with primary lead accounting for the majority.
![Intraday non-ferrous metals prices were weak; lead rebounded slightly, closing with a small bearish candlestick. [Lead Futures Brief Review]](https://imgqn.smm.cn/usercenter/ojSqv20251217171720.jpeg)
![[SMM Flash] Supply tightness caused by the Hormuz situation continued to escalate, driving sulfur prices higher.](https://imgqn.smm.cn/usercenter/HfIIS20251217171709.jpg)
