Demand from overseas motive battery market has only picked up slightly, and the overall demand was still relatively weak. Domestically, demand from the motive battery market improved thanks to semi-annual output targets at automakers.
In addition, all links of the industrial chain have destocked inventories for a long time previously, leaving raw material inventories of downstream battery and cell factories at low levels. They stocked up on raw materials as the price of copper fell in May. In terms of copper foil for electronic circuits, end-user demand barely recovered. Production at some enterprises exceeded demand from new orders, driving finished product inventories to accumulate.
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