SHANGHAI, Jan 22 (SMM) – Operating rates across lead-acid battery producers in Jiangsu, Zhejiang, Jiangxi, Hubei and Hebei provinces averaged 16.3% during January 20-22, down 32.57 percentage points from the week ended January 17, showed SMM data.
The decline in operating rates was significant as most plants have suspended production in the last week before the Chinese New Year holiday. Only a few large-scale plants maintained production until CNY eve. With distributors exiting from the market for the holidays, trades of batteries also sharply declined this week.
Most battery producers plan to resume production around February 1.
However, uncertainty grows around the post-holiday production recovery as the new virus outbreak in China recently may deter workers from returning to work.
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