End-use consumption remains weak, major lead-acid battery enterprises maintain stable operations but with significant divergence [SMM Lead-Acid Battery Weekly Operation Comment]

        According to reports, the SMM weekly comprehensive operating rate for lead-acid battery enterprises in five provinces was 70.77% from January 16 to January 22, 2026, basically flat WoW.

Recently, overall consumption in the lead-acid battery market has been relatively weak, with no significant changes in the operating rates of major producers. Currently, the e-bike lead-acid battery market remains the weakest segment in terms of consumption. Some enterprises intend to implement further production cuts or advance their Chinese New Year break. Considering the dealers' customary stockpiling before the Chinese New Year in previous years, these enterprises are passively building up battery inventories as part of their Chinese New Year preparations. Production among other battery enterprises also varies. Domestic consumption in the automotive battery market is moderate, but export orders have weakened. The operating rates of large enterprises range from 50% to 100%.