Lead Output to Hold Stable in February, Unlikely to Recover to Level in December 2022

Some small and medium-sized primary lead and secondary lead smelters were closed or undertook maintenance due to the CNY holiday in January. More secondary lead smelters were closed than primary lead smelters, thus reducing the overall supply from December.

In February, major smelters resumed production. There were lead smelters putting expanded capacity into production and undertaking maintenance. Besides, there were only 28 calendar days in February. Thus lead output is expected to hold stable in February and is unlikely to recover to the level in December 2022.