This week (June 12, 2026 – June 18, 2026), the average operating rate of primary lead smelters across three provinces was 65.19%, down 1.01 percentage points WoW.
This week, production at smelters in Henan and Yunnan remained stable, with overall operating rates basically flat WoW. A medium-sized smelter in Hunan began equipment maintenance early in the week, with production expected to resume after maintenance concludes in mid-July, leading to a slight pullback in the regional operating rate. In other regions, a smelter in Jiangxi slightly ramped up production this week following the completion of maintenance, driving the operating rate in east China higher.
![US-Iran peace talks stalled, LME lead gave back all weekly gains [SMM Lead Morning News]](https://imgqn.smm.cn/usercenter/hrxHx20251217171721.jpeg)
![Fundamentals Moderate but Macro Complex, Short-Term Lead Prices to Give Back Part of Gains [SMM Lead Morning Meeting Summary]](https://imgqn.smm.cn/usercenter/lIHfM20251217171721.jpeg)
![Maintenance and Downstream Cargo Pick-Up Deplete Primary Lead Enterprises' Plant Inventory to Low [SMM Primary Lead Inventory Weekly Review]](https://imgqn.smm.cn/usercenter/bAjSC20251217171721.jpg)
