[SMM Survey] maintenance of Primary lead Refinery has come to an end and pressure on the supply side has skyrocketed.

According to SMM June 18 news

According to SMM research, since the beginning of May, the seasonal maintenance of the primary lead smelter has begun one after another, as shown in the figure, for the primary lead refinery to be overhauled in June.

In the current period, both gold, silver and lead in Chifeng Mountain and Shuikou Mountain in Hunan Province have been overhauled and resumed production one after another, while Hechi, Guangxi, plans to resume production at the end of June. Judging from the pace of recovery of the whole smelter, it is expected that the pre-maintenance refinery can basically resume conventional production in July. At the same time, in July, Henan Minshan, Hunan Yinxing (to be determined) and other refineries have maintenance plans, this rise and fall, The whole electrolytic lead supply is expected to show a slight increase in July compared with the previous month. Judging from the domestic passenger car sales data, it is still in the process of finding the bottom at a low level. In the short term, there are no obvious signs of stopping the decline and stabilizing. However, under the continued downturn in lead terminal consumption, some battery enterprises have cut production since June and even some small and medium-sized enterprises have stopped production. Supply is stable and demand is weak. In July, lead prices want to rise from a low level, and the pressure is great. Above we still maintain the view that the pressure of 16300 yuan is difficult to break through, low considering the current shortage of waste battery supply, raw material prices are difficult to loosen, overall, the lead price continued to fluctuate in July.

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