SHANGHAI, Jan 3 (SMM) – Operating rates across lead-acid battery producers in Jiangsu, Zhejiang, Jiangxi, Hubei and Hebei provinces averaged 55.21% in the week ended January 3, down 0.98 percentage point from the previous week, showed SMM data.
This marked a second straight week of declines in battery maker operations, as some plants shut on the New Year’s Day.
Given sluggish end-market consumption and weaker lead prices, most battery distributors remained cautious about stockpiling ahead of the Lunar New Year holiday, and the arrival of shipments from producers for rebates may deter some distributors from making additional purchases.
Next week, distributors and lead-acid battery producers in remote areas may step up replenishing their stocks as logistic services are about to halt.
For the Lunar New Year holiday schedule, some battery makers plan to begin the break from January 15 while large-scale plants will begin after January 20.