In February, the production of battery cells decreased by 11% compared to the previous month. The overall market continues to experience a small accumulation of inventory.

In February, the global battery wafer production of Chinese enterprises in the sample decreased by 11% month-on-month, and domestic production decreased by 12% month-on-month. Due to fluctuations in downstream component demand and silver prices, battery factory willingness to start production has decreased. Manufacturers will prioritize digesting existing inventory in February, and then evaluate production plans based on demand and cost expectations for March, in order to minimize operational losses caused by delayed cost transmission. With the approaching Chinese New Year and continued high volatility in silver prices, downstream wait-and-see sentiment is strong, leading to a significant decrease in purchasing willingness. Actual transactions in the domestic market are weak, with very few effective orders; the overseas market, however, maintains a normal pace of order placement and delivery. The market as a whole continues to accumulate slight inventory.