China refined lead output in February

In February 2024, the domestic refined lead output was 276,100 mt, down 5.94% month-on-month and 2.91% year-on-year. The cumulative output from January to February was flat year-on-year. Production capacities of enterprises involved in the survey totalled 6.0063 million mt in 2024.

According to survey, the domestic refined lead production dropped as expected in February. The main reason is that February coincides with the Chinese New Year holiday. Although most primary lead smelting companies continued to produce as usual, some small and medium-sized smelting companies in Hunan and Henan closed or carried out maintenance during the Chinese New Year holiday. The output of lead smelters shrank in February due to the reduction of working days. In addition, smelting companies in Qinghai suspended production and were undergoing reconstruction and expansion, which is expected to last until September this year, resulting in a larger reduction in production. Therefore, the decline in refined lead production in February was higher than expected.

In March, there will be 31 calendar days, and the production of lead smelters will thus increase. At the same time, the maintenance of lead smelters in Hunan, Yunnan, Henan, Guangdong and other regions has been completed. These will account for the output growth in March. Large-scale delivery brands producers in Henan and some smelters in Hunan plan to undertake maintenance, which will limit the growth of refined lead production in March. SMM expects refined lead production to increase by more than 10,000 mt in March to 287,000 mt.