Chinese Lead-Acid Battery imports shoot up in February; Exports plunge 35.65 percent
SHANGHAI (Scrap Register): Chinese Lead-Acid Battery imports shot up by 53.93 percent year-on-year during the month of February this year, while its exports plunged by 35.65 percent year-on-year, according to the latest China Customs Data.
China has imported 715,100 units of lead-acid batteries during the month of February, up 0.88 percent as compared to January this year, which including 215,800 units of ignition lead-acid batteries and 499,400 units of other lead-acid batteries, down 9.09% month-on-month and up 5.9% month-on-month respectively.
Chinese Lead-acid battery imports advanced sharply by 34.22% year-on-year to 1.42 million units during the first two months of this year.
After 2017 Chinese New Year holiday, industries recovered in China and demand increased in battery market in February. Moreover, most battery producers resumed operation after February 11. Hence, battery import increased o a monthly basis.
The large growth on a yearly basis was mainly because that most industries in China closed down in February due to 2017 Chinese New Year holiday, leading to poor demand for battery.
China’s exports of lead acid battery were 7.57 million in February, down 59.98% month-on-month and 35.65% year-on-year. Exports of ignition lead-acid battery were 1.20 million in February, down 31.52% month-on-month and 3.39% year-on-year, and those of other batteries reduced 62.90% month-on-month and 39.46% year-on-year to 6.36 million.
Battery export declined sharply in February due to 2017 Chinese New Year holiday and overseas clients built stocks 1-2 month before the holiday and mainly consumed battery through inventories on hand after the holiday.
So, export reduced sharply in February on a monthly basis. The data declined on a yearly basis due largely to different date of 2016 and 2017 Chinese New Year holidays.