SMM News, May 22:
From May 15 to May 21, 2026, SMM data showed that the weekly operating rate of secondary lead in four provinces in China was 27.62%, up 1.49 percentage points WoW. In Henan, production lines under maintenance resumed production, with the regional operating rate rising 5.9 percentage points. In Jiangsu, raw material shortages led smelters to cut production, with the operating rate pulling back 1.54 percentage points. Production in Anhui and Inner Mongolia remained stable. No production adjustment plans are scheduled across regions next week, and the operating rate is highly likely to remain stable. Meanwhile, attention should be paid to the pace of production resumptions following environmental protection-related controls in Guangdong, as well as the production ramp-up pace of smelters resuming production in Jiangxi.
![Weak Off-Season Demand, Secondary Crude Lead Fluctuates in the Short Term [SMM Secondary Crude Lead Weekly Review]](https://imgqn.smm.cn/usercenter/xVUpr20251217171722.jpg)
![Secondary Lead Inventory Continues to Rise, Short-Term Destocking Faces Significant Resistance [SMM Secondary Lead Inventory Weekly Review]](https://imgqn.smm.cn/usercenter/EhsCj20251217171721.jpeg)
