Supply Tightening Combined With Pre-Holiday Rigid-Demand Restocking Keeps Inventory at Secondary Lead Smelters on a Continued Downtrend [SMM Secondary Lead Inventory Weekly Review]

Published: Sep 18, 2026 16:04

Save

SMM, September 18:

As of September 17, secondary lead finished product inventories stood at 12,400 mt, down 2,200 mt MoM. This week, secondary lead production declined, with a notable contraction on the supply side; coupled with restocking demand from battery enterprises ahead of the dual holidays, spot orders from smelters were tight, driving finished product inventories at plants to continue pulling back. Looking ahead to next week, secondary lead operating rates are expected to remain flat, but high costs of compliant scrap battery raw materials limit production flexibility at smelters; as downstream battery enterprises gradually complete their dual-holiday stockpiling, the pace of destocking in secondary lead plant inventories is expected to slow down.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

1 hour ago

Data: SHFE, DCE market movement (Sep 18)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 18 Sep , 2026

1 hour ago

Central China Lead Smelter to Resume 500 Tons Daily Output After Maintenance Completion on Sep 25

[Lead Smelting Enterprise Updates] It is understood that the routine maintenance of a large primary lead smelting enterprise in Central China is entering its final stage and is expected to be completed on September 25, after which the plant will resume a daily output of approximately 500 tonnes of electrolytic lead.

1 hour ago

North China Lead Smelter Nears End of Maintenance, Set to Resume 300 Tons Daily Output by Sept 25

[Lead Smelting Enterprise Updates] It is understood that the routine maintenance of a large primary lead smelting enterprise in North China is entering its final stage and is expected to be completed on September 25, with a daily production capacity of 300 tonnes of electrolytic lead.

1 hour ago