SHANGHAI, Jul. 8 (SMM) – The seven lead-acid battery firms listed in China’s stock market have halted trading in response to recent stock price plunge, SMM learned.
Sacred Sun, Dynavolt Power, Camel Group, Narada, Wanli Group, and Wolong Electric all filed for suspending stock trading early this month. Fengfan Co. has halted trading since June 11.
SMM understands that some lead & zinc smelters, including Chihong Zn & Ge, Zhuzhou Smelter, and Zhongjin Lingnan Nonferous, are still maintaining normal trading,
Chinese stock markets tumbled again today regardless of a series of support measures by regulator. Commodities were also dragged down with September-delivery SHFE lead once hitting 12,200 yuan.
Battery producers were now unwilling to build input stocks for fear of further decline in lead prices, while smelters also refrained from selling, leaving trades muted.
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