Export orders for batteries weakened, and the operating rates of lead-acid battery enterprises declined. [SMM Weekly Review of Lead-Acid Battery Operating Rates]

        It is learned that the comprehensive weekly operating rate of lead-acid battery enterprises in five provinces surveyed by SMM was 71.06% from September 12 to 18, 2025, down 1.09 percentage points WoW.

The weekly operating rate of lead-acid battery enterprises declined this week, mainly due to the impact of tariffs and the SHFE/LME price ratio, which weakened export orders for some automotive battery enterprises, leading them to reduce their production line operating rates. These enterprises also plan to take holidays during the National Day period and will not conduct additional lead ingot stockpiling before the holiday. Meanwhile, production at other lead-acid battery enterprises remained relatively stable, with most maintaining operating rates between 70% and 80%. Although the traditional peak season for the replacement market of e-bike and automotive batteries was not strong, and dealer orders remained moderate, the implementation of the new national standard for e-bikes in September led some downstream enterprises to report improved orders for new vehicle supporting batteries. Additionally, demand for ESS batteries was moderate, allowing operating rates for these enterprises to reach over 90% or operate at full capacity.