It is understood that from February 20 to February 26, 2026, the SMM weekly comprehensive operating rate for lead-acid battery enterprises in five provinces was 29.26%, up 22.93 percentage points WoW.
After the Chinese New Year holiday, major lead-acid battery enterprises resumed operations one after another, with most enterprises restarting around February 24 (the eighth day of the first lunar month). As a result, the weekly operating rate for lead-acid battery enterprises increased. According to the work resumption plans of downstream enterprises, the last batch of enterprises on holiday is expected to resume operations before the Lantern Festival. With the gradual return of non-local workers and the increase in production line operating rates, the weekly operating rate for lead-acid batteries is projected to continue rising.
![Weekly Brief Review of the Lead Concentrate Market (February 23, 2026–February 27, 2026) [SMM Lead Concentrate Weekly Review]](https://imgqn.smm.cn/usercenter/hrxHx20251217171721.jpeg)
![Downstream enterprises primarily focused on digesting pre-holiday inventory after the holiday, with trading activity in the spot market remaining subdued. [SMM Weekly Review of the Refined Lead Spot Market]](https://imgqn.smm.cn/usercenter/lIHfM20251217171721.jpeg)
![SMM Weekly Operating Rate of Primary Lead Smelters (February 20, 2026–February 26, 2026) [SMM Weekly Review of Primary Lead Operating Rates]](https://imgqn.smm.cn/usercenter/msNEk20251217171722.jpg)
