SMM February 9 EV Battery Market Summary [SMM Evening Briefing]

SMM February 9 News: Dealers in Hunan reported sluggish replacement demand for e-bike lead-acid batteries, with slow inventory digestion. The current stock is sufficient to support sales after the holiday, and stores will be closed on February 13. Manufacturers in Shandong also noted weak demand for e-bike batteries, with orders declining since February, and the operating rate of factories being less than 60%. As the Chinese New Year approaches, workers are gradually returning home, and the factory plans to close on February 10. Producers in Jiangxi indicated an overall weak demand for e-bike batteries, especially a drop in orders for complete vehicle sets. With logistics largely halted, the factory plans to close on February 10, and no further purchases of lead ingots will be made before the holiday.