SHANGHAI, Jan. 8 (SMM) – Some Chinese distributors planned to lower motive battery wholesale prices to push sales due to cash tightness and soft demand.
48v20Ah battery prices will fall to 450-460 yuan. Most distributors rushed to source cheap goods because of price hikes by leading battery makers in December. Bullish sentiment was gradually digested by market mid to late December, slowing battery sales. This left average inventory at 20-30 days at large distributors, worsening cash crunch.
Logistics industry will halt work due to upcoming Chinese New Year holiday 2016 and thus most distributors are active in building stocks. Battery makers will suspend delivery on January 20 and they advised distributors to purchase batteries before January 15.
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