From October 9 to October 15, 2026, the weekly operating rate of secondary lead smelters across four provinces tracked by SMM stood at 30.8%, up 5.28 percentage points WoW. By region, smelter A in Anhui ended its National Day production cuts and ramped up production, but smelter B faced raw material procurement pressure and showed signs of cutting production, leaving the regional operating rate slightly higher overall. In Henan, some smelters continued maintenance on production lines, dragging the operating rate lower. In Jiangsu, some smelters cut production during the holiday due to equipment failures, and output this week was more stable than last week, with the operating rate surging 21.65 percentage points WoW. Looking ahead to next week, the market will focus on scrap battery supply. If raw material procurement pressure increases further, the secondary lead operating rate is expected to pull back.
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![Imported crude lead orders traded in September are arriving at ports successively; domestic secondary crude lead prices remain firm with low trading volume [SMM Secondary Crude Lead Weekly Review]](https://imgqn.smm.cn/usercenter/rDPju20251217171722.jpg)
![Secondary lead finished product inventories continued to decline this week, with future inventory buildup risks yet to be observed [SMM Secondary Lead Inventory Weekly Review]](https://imgqn.smm.cn/usercenter/guTSZ20251217171722.jpg)
![Weekly Brief Review of the Lead Concentrates Market (October 12, 2026 - October 16, 2026) [SMM Lead Concentrates Weekly Review]](https://imgqn.smm.cn/usercenter/msNEk20251217171722.jpg)
