Weekly Brief Review of the Lead Concentrate Market (March 1, 2025 - March 7, 2025) [SMM Lead Concentrate Weekly Review]

In early March, as smelters gradually completed maintenance and the supply of imported ore remained insufficient, the supply deficit of lead concentrates in the market intensified. On one hand, domestic mines experienced a seasonal decline in Q1 operating rates, with tight market circulation in regions such as Inner Mongolia. Smelters primarily relied on digesting winter stockpiles, leading to subdued market transactions. On the other hand, in terms of imported ore, market activity remained sluggish this week, with very few forward quotes. Although a few traders lowered the Pb60TC for silver-lead ore, smelters' inventories were moderate, and there was no intention to purchase.

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