China’s Output Of Battery Fell by 6% in April

China’s battery output in April was 38.9 GWh, down 6% month-on-month but up 17% year-on-year. In detail, the ternary battery output stood at 12.7 GWh, down 14% MoM and flat YoY, and LFP battery  output recorded 26.3 GWh, down 1% MoM but up 28% YoY. Most battery factories kept operating rates at low levels in April.

Many leading battery manufacturers continued to destock inventories and lowered their production schedules.

The recovery in downstream demand remained insignificant in April. The peak season for energy storage battery industry has not set in, and concentrated purchases for grid connection will not occur until the second half of the year. Meanwhile, the settlement cycle and continuous declines in battery prices discouraged downstream buyers from purchasing or taking deliveries.

In terms of power battery, the demand was also poor and the producers continued to destock inventories.

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