Lead acid battery demand from China remains “fairly strong” as the government’s stimulus plans benefit the electric bike industry, helping keep the country a net importer of the metal, Macquarie Group Ltd. said.

The so-called E-bike is “the key product that will benefit most from” the stimulus because of its affordability for farmers and as more roads will be built in the countryside, Macquarie analysts led by Bonnie Liu said in an e-mailed report.

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