SMM Weekly Operating Rate of Primary Lead Smelters (February 27, 2026–March 5, 2026) [SMM Weekly Review of Primary Lead Operating Rates]

This week (February 27, 2026–March 5, 2026), the average operating rate of primary lead smelters in the three provinces was 56.97%, up 5.5 percentage points MoM from the operating rate in the previous week of early spring. This week, smelters in Henan maintained stable production, and output at large-scale smelters that had slightly cut production during the holiday period returned to normal; a smelter that underwent maintenance in February resumed production in March. In Hunan, one smelter resumed production this week, and two other smelters resumed crude lead production, but electrolysis production has not yet resumed. This week, primary lead smelters in Hunan resumed operations one after another; one smelter only resumed crude lead operations, with primary lead production expected to resume by the end of this week and gradually ramp up output next week; another smelter’s expectations for resuming from maintenance were delayed to mid-March. In Yunnan, smelters that had suspended production for holiday maintenance resumed operations one after another this week, but some smelters still delayed their plans to resume production to mid-to-late March.