Expectations for Peak Consumption Season Remain, Lead-Acid Battery Enterprises Resume Production and Increase Output [SMM Lead-Acid Battery Weekly Operating Rate Comment]

        It is understood that the SMM weekly comprehensive operating rate for lead-acid battery enterprises in five provinces was 74.97% from October 10 to October 16, 2025, up 13.26 percentage points WoW.

By this week, the impact of the National Day & Mid-Autumn Festival holidays had completely subsided, and lead-acid battery enterprises resumed normal production. Due to expectations for the traditional September-October peak season, production enthusiasm among some automotive battery enterprises improved compared to pre-holiday levels, leading to an increase in operating rates and driving the weekly operating rate rebound. Since October, demand for e-bike and automotive batteries has been stable with an upward trend, and production performance of lead-acid battery enterprises has been better than expected, mainly reflected in varying degrees of recovery in new vehicle supporting and replacement demand. However, the battery export sector continues to be affected by factors such as tariffs and cost differences between domestic and international lead, with operating rates for production lines of such battery enterprises remaining at 50-70%.