SMM reported on June 23: Dealers in Shandong reflected that end-use consumption in the e-bike lead-acid battery market was sluggish, with multiple brands implementing sales promotions, creating a strong promotional atmosphere in the battery wholesale market. For example, the wholesale price for the main model 48V20Ah was 380 yuan per set. Manufacturers in Jiangxi reported that the off-season trend in the e-bike lead-acid battery market persisted, with dealers showing low procurement enthusiasm. After the holiday, battery orders did not improve, and the factory's operating rate is currently around 70%, with raw material lead mainly being used to digest inventories. Manufacturers in Zhejiang reported that replacement demand in the e-bike lead-acid battery market was weak, and matching orders for complete vehicles were also scarce. Currently, the factory produces based on sales, with the production line operating rate at 70-80%. Additionally, as they had already stockpiled inventory during the earlier period when lead prices fell, there is no plan to purchase in the short term.

SMM June 22 News: End-use consumption in the e-bike lead-acid battery market is sluggish, producers have poor orders, and most are maintaining production cuts. Recently, some province and city governments, in collaboration with automakers, have restarted trade-in subsidies for e-bikes. Currently, regions such as Guangdong, Henan, and Hubei have officially announced that this will be implemented starting in July.

China's imports of lead-acid batteries in May 2026 amounted to 481,400 units, up 3.28 percentage points MoM and up 13.62 percentage points YoY. Combined imports from January to May 2026 reached 2.2611 million units, down 1.57 percentage points YoY.

[SMM Flash] According to customs data, China's exports of lead-acid batteries in May 2026 reached 20.6522 million units, up 7.73 percentage points MoM and up 2.8 percentage points YoY. Combined exports from January to May 2026 totaled 85.9478 million units, down 8.86 percentage points YoY.

According to SMM data, the weekly overall operating rate of lead-acid battery enterprises across five provinces stood at 66.82% from June 12 to June 18, 2026, edging down 0.37 percentage points WoW. In June, amid the mid-year period, production at major lead-acid battery enterprises remained relatively stable. However, end-use market consumption was sluggish. Some enterprises reported significant finished product inventory pressure. In addition, with the Dragon Boat Festival holiday approaching, lead-acid battery enterprises generally planned a 1-3 day holiday. Among them, a few enterprises advanced their holiday or extended it to five days due to insufficient orders, leading to a slight decline in the operating rate this week. The Dragon Boat Festival holiday this year falls on June 19-21. As enterprises enter the holiday period, the operating rate is expected to decline further next week.

Recently, the lead-acid battery market’s traditional off-season trend continued, with dealers’ response to battery sales promotions remaining tepid. Most dealers maintained purchasing as needed; for example, the wholesale price of the main e-bike lead-acid battery model 48V12Ah was reported at 270 yuan per set, while live streaming promotions were conducted during the "618" festival. On the producer side, this week, lead prices rebounded with volatility, and downstream enterprises’ purchasing enthusiasm for lead ingots weakened significantly WoW. On the one hand, lead inventory purchased earlier had not yet been consumed; on the other hand, the rebound in lead prices dampened downstream purchasing enthusiasm, leading to weaker spot lead market transactions.