[SMM Analysis: Lead-Acid Battery Export Rush Amid Tariff Hikes? Reduced Volume to the US?]

SMM, April 22: According to customs data, lead-acid battery imports in March 2025 totaled 475,300 units, down 6.96% MoM and 9.63% YoY. Cumulative imports for January-March 2025 reached 1.3806 million units, up 2.03% YoY.Lead-acid battery exports in March 2025 stood at 18.894 million units, up 47.65% MoM and 20.08% YoY. Cumulative exports for January-March 2025 amounted to 53.7468 million units, down 1.45% YoY.

It is understood that the impact of the Chinese New Year on the domestic market was fully lifted in March, and overseas demand gradually rebounded, with lead-acid battery orders from sectors such as automotive and ESS showing improvement. However, the lead price ratio was unfavorable for battery exports. To seize or maintain overseas market share, many lead-acid battery export-oriented companies frequently took orders below domestic lead cost prices, resulting in MoM increases of 76.11% and 36.85% in starter and other lead-acid battery exports, respectively, in March.

Since the beginning of this year, the US has escalated tariff hikes on Chinese goods, and as the US-China trade tariff war intensifies, the automotive industry has become one of the key sectors impacted. As a major automotive component, lead-acid batteries have also been affected. Starter lead-acid battery imports in March 2025 fell 36.36% MoM. In Q1 2025, cumulative lead-acid battery exports were lower than the same period in 2024 (when the lead price ratio favored exports), with the share of exports to the US dropping to 0.21%.

On April 2, 2025, US President Trump announced a 25% tariff on imported cars, with plans to gradually increase tariffs on all goods to 34%, 50%, 84%, 125%, 145%, and even up to 245%. In response, China imposed a 125% tariff on all US-origin imports. Faced with high tariffs, several major US automakers, including Ford and General Motors, announced adjustments to their China business strategies, suspending exports of certain car models to the Chinese market. This decision is expected to further drag down lead-acid battery import and export business. Overseas data shows that in 2024, China imported 70,900 lead-acid batteries from the US, accounting for 1.26% of total imports, while exports to the US totaled 8.2979 million units, representing 3.3% of total exports. The top three exporting provinces were Guangdong, Shandong, and Jiangsu.