SHANGHAI, Nov 1 (SMM) – Lead-acid battery producers in China continued to scale back operation this week, as demand for electric bike batteries worsened in a slack season.
A SMM survey showed that operating rates across lead-acid battery producers in Jiangsu, Zhejiang, Jiangxi, Hubei and Hebei provinces averaged 56.24% in the week ending November 1, down 0.58 percentage point from the prior week, marking a third straight week of decline.
Producers of electric bike batteries in Jiangsu and Jiangxi moved down a gear to avoid any inventory buildup, as orders from distributors shrank significantly on the back of falling lead prices and poor demand from end-users.
Automotive battery producers also operated cautiously in light of modest downstream demand and exports disruption amid Nigeria’s border closure.
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