SMM News, May 15:
From May 8 to May 14, 2026, SMM data showed that the weekly operating rate of secondary lead smelters across four provinces in China was 26.13%, down 0.96 percentage points WoW. Smelters in Anhui cut production due to losses and tight raw material inventory; smelters in Henan that previously underwent maintenance plan to gradually resume production next week, while operating rates in Jiangsu and Inner Mongolia were basically stable. Looking ahead to next week, lead prices are likely to be in the doldrums, and the operating rate of secondary lead enterprises is expected to remain stable.
![SHFE Lead in the Doldrums Throughout the Day, Broad Decline in Non-Ferrous Metals Dragged Prices to Fluctuate Downward [Lead Futures Brief]](https://imgqn.smm.cn/usercenter/mfCMp20251217171721.jpeg)
![Environmental Protection-Driven Production Restrictions Tighten Supply, Secondary Crude Lead Supply-Demand Maintains Tight Balance [SMM Secondary Crude Lead Weekly Review]](https://imgqn.smm.cn/usercenter/LCtEk20251217171721.jpeg)