SHANGHAI, Jun. 5 (SMM) - Lead-acid battery distributors were sitting on excess inventories due to anemic demand, SMM learned.
Continued weakness in e-bike market dampened demand for motive batteries. That, combined with intense competition, left wholesale prices weak at at 500-510 yuan per set for 48v20Ah batteries.
Things were worse in automobile battery market which experienced a surge in inventories lately. This has forced some suppliers to cut prices. Branded battery prices fell by about 20-50 yuan per unit in the past month.
Lead-acid battery producers were pessimistic on future market because of insufficient new orders.
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