Off-Season and Export Setbacks Drove Down Lead-Acid Battery Enterprise Operating Rates [SMM Lead-Acid Battery Weekly Operating Rate Comment]

Published: Apr 24, 2026 16:36

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According to SMM research, from April 17 to April 23, 2026, the weekly comprehensive operating rate of lead-acid battery enterprises across five provinces surveyed by SMM was 68.59%, down 1.07 percentage points WoW.

The off-season trend in the lead-acid battery market intensified. Particularly in mid-to-late April, end-use consumption in the e-bike lead-acid battery market declined further. Orders at some medium and large enterprises fell, finished product inventories accumulated, and production line operating rates were cut to varying levels of 50-70%, dragging down the weekly operating rate of lead-acid batteries. In addition, the current SHFE/LME price ratio remained unfavorable for lead-acid battery exports. Coupled with the impact of Middle East conflicts and tariffs, lead-acid battery exports in March saw a rare decline from February (in previous years, battery exports were at annual lows in January-February due to the Chinese New Year holiday, while March typically saw a recovery in post-holiday orders and shipments, with battery exports rising in the vast majority of cases). Orders at export-oriented enterprises remained sluggish from March to April.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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