SHANGHAI Jan. 19 (SMM) – Some Chinese motive battery producers are planning to raise battery prices by 10-15 yuan following Chinese New Year holiday due to expectation for massive stock building, SMM forecasts.
Logistics enterprises will remain closed during the festival and inventories at distributors will be gradually digested by market. This will fuel demand for stock building after the festival.
To avoid supply deficit seen in the same period after 2015 Chinese New Year festival, a majority of producers will hoard stocks before 2016 Chinese New Year holiday.
Two giant motive battery makers stepped up battery prices in January against consumption tax, leaving 48v20Ah battery prices up to 490-500 yuan.
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