SHANGHAI, Jan 7 (SMM) – Operating rates at lead-acid battery producers across Jiangsu, Zhejiang, Jiangxi, Hubei and Hebei extended their declines by 4.18 percentage points week on week, and averaged 59.53% in the week through January 4, SMM data showed.

Some lead-acid battery plants suspended for three days for the New Year’s Day holiday and this accounted for the overall lower operating rate. 

Battery producers started to restock lead ingot as raw materials at the beginning of 2019, as cash flow issues eased and prices of lead fell last week. However, downstream demand and purchases from distributors showed no signs of improvement, and this will keep lead-acid battery mills restocking raw materials cautiously ahead of the Chinese New Year.