China imported 695,200 lead-acid batteries in July, up 26.1% from June with an increase of 11.7% year on year, the Shanghai Metals Market said.
The rise in imports comes after China Customs reported lead-acid battery imports had seen a slide of 6.3% YoY to 4.29 million in the first half of the year.
And this has to be put in perspective with Chinese lead acid battery exports— up to 19.96 million in the same month, an increase of 17.07% month on month and 14.6% year on year, according to a report by the India-based Scrap Register.
China is estimated to produce 30% of the world’s lead-acid batteries.
The Chinese Ministry of Finance has said it will levy a 4% consumption tax on lead-acid batteries from January 1 next year, which is expected to put pressure on domestic producers to cut production.
A government report pledged to ‘eliminate’ lead-acid battery and secondary lead plants with ‘backward production capacities’ by the end of 2015.
