SHANGHAI, Nov 8 (SMM) – Lead-acid battery producers in China maintained stable operations this week, after cutting production for three weeks in a row, showed an SMM survey.
Operating rates across lead-acid battery producers in Jiangsu, Zhejiang, Jiangxi, Hubei and Hebei provinces averaged 56.24% in the week ending November 8, unchanged from the prior week.
Battery producers turned more cautious about production, as new orders declined on sluggish demand and risk aversion sentiment.
Some distributors stopped purchasing after losses in the past two weeks sent lead prices on the Shanghai Futures Exchange to the psychologically-key 16,000 yuan/mt level.
It is a low season for electric bike batteries, while replacement demand for automotive batteries remains poor.
Production planned for November across producers of lead-acid batteries, especially those for e-bikes, came in lower than that for October.