Weekly primary lead smelter operating rate rebounded 1.7 percentage points to 58.5%

SHANGHAI, Nov 15 (SMM) – Operating rates across primary lead smelters in Henan, Hunan and Yunnan provinces averaged 58.5% in the week ending November 15, up 1.7 percentage points from the previous week, according to an SMM survey.

Operating rates at Yunnan and Hunan remained unchanged at 43.8% and 45.5%, respectively, while the rate at Henan rebounded 3.4 percentage points to 71.7% as Xinling smelter recovered from maintenance.

It was heard that the Henan province imposed production restrictions for environmental concerns. Primary lead smelters did not feel any impact, SMM learned.

Treatment charges for domestic lead concentrate remained high as of mid November, which is likely to bolster capacity utilisation rates across smelters.

This is set to increase refined lead supply pressure in the fourth quarter, and weigh on prices.