SMM

SMM3 March 28: Dealers in Jiangxi reported weak end-use consumption in the automotive battery market, with slow inventory digestion. Intense competition among major brands has maintained promotional activities in the battery wholesale market, such as 6-QW-45Ah priced at 160-180 yuan per unit. Manufacturers in Chongqing noted a decline in replacement demand for automotive batteries, leading to a drop in battery orders. The company initiated promotions for batteries in early March, but rising raw material costs for antimony and tin have increased sales cost pressure, potentially prompting a suspension of battery promotions in April. Manufacturers in Zhejiang indicated that the automotive battery market has entered the traditional off-season, with dealers being cautious in procurement. Additionally, the high SHFE/LME price ratio for lead has made battery production costs higher than in overseas markets, adversely affecting battery exports. Currently, factories are producing based on sales, with operating rates at 60-70%.

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