According to SMM survey, the average operating rate across primary lead smelters was 56.88% last week (April 1-7), rising 1.3 percentage points from a week earlier.
Last week, Jinli's new production line in Henan stepped up production, but maintenance at another smelter's crude lead production line has not yet been completed. The output of refined lead was slightly affected as a result. There are still a few small factories with tight supply of raw materials, and their output was slightly affected. The production of other smelters remained stable, and the average operating rate of the region increased slightly. A smelter in Hunan that had suspended production two weeks ago due to the impact of raw materials partially resumed last week. In addition, another lead smelter also resumed production last week. Tight crude lead supply limited output growth at some smelters.
Operating rates in Yunnan fell as the output of a smelter fell slightly due to tight ore supply and power rationing. In addition, Chihong Zn & Ge's smelter in Qujing still maintained normal production last week, but the company has maintenance plans in mid-April. Its production in April will decline slightly. In other regions, a smelter in Jiangxi ended its production increase in March, and planned to cut its output in April slightly.
![El plomo en la SHFE cede un 0,03% con una larga sombra superior, la consolidación en máximos se mantiene intacta [Breve comentario sobre futuros del plomo]](https://imgqn.smm.cn/usercenter/xVgcv20251217171721.jpg)
