SHANGHAI, Sept. 23 (SMM) – Average finished product inventory at Chinese 30 lead-acid battery producers was 19.71 days in August, falling 0.91 days from July, SMM survey shows.
The 30 battery makers have an annual capacity of 203.84 million KvAh with annual lead consumption of 4.09 million tonnes, which includes 17 motive battery makers, 10 ignition battery makers and 3 backup battery makers.
Upbeat sales in the traditional peak season were behind the continuous decline in domestic battery inventories. Price hike news released by leading battery makers and growth in small brand battery prices also boosted purchase by distributors. Also, some distributors built stocks ahead of schedule due to G20 Summit in Hangzhou.
Demand for ignition batteries improved, cutting inventories at producers. Domestic auto output and sales both grew in August, driving up orders for ignition batteries. Ignition battery makers planned to lift prices in September, supported by rising spot lead prices and this stimulated distributors to purchase batteries in late August.
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