SHANGHAI, Oct. 26 (SMM) – Lead-acid battery imports jumped 294.97% from August to 2.63 million in September, China Customs reported.
China imported 262,600 ignition batteries in September, up 6.82% from August. During January-September, lead-acid battery imports hit 7.59 million, rising 27.13% from a year ago.
Demand for high-end and environment-friendly batteries, citing AGM batteries, is on the rise, bolstering imports.
China’s 4% consumption tax on lead-acid batteries will be introduced on January 1 next year. This stimulates domestic producers to build stocks in advance to avoid a large growth in costs, further expanding demand for imports.
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