Citibank: China's battery supply chain falls short of peak season expectations, production pipeline forecast for October 2026

The Zhitong Finance App learned that Citibank released a research report saying that ZE Consulting has lowered its battery production pipeline forecast for October 2026. The production pipeline of the top five major battery manufacturers is expected to increase by only 1% month-on-month, which is lower than the 7% month-on-month increase expected in the previous preview survey. The bank lowered production pipeline forecasts for Ningde Era (03750), China Airlines (03931), and EVE.

The bank pointed out that October was supposed to be the peak season, and the overall production pipeline for October fell short of expectations. Previously, it was anticipated that October might catch up and increase production was unlikely. This confirms that basic demand for batteries is showing some signs of weakness. Citi expects that the battery sector's production pipeline will be lowered in October 2026, which may further exacerbate market concerns about battery demand, and that negative sentiment in the battery industry chain may continue in the short term.