[may 12 SMM lead data]

According to the National Bureau of Statistics, national sulfuric acid (100% basis) output in June 2026 reached approximately 7.923 million tons (vs. 8.365 million in May, 8.948 million in April, and 9.637 million in March, showing a month‑on‑month decline). The year‑on‑year change for the month was about ‑10%. For the first half of the year (January–June), cumulative production totaled roughly 52.223 million tons, a year‑on‑year decrease of about ‑0.1% (down from +1.9% in the January–May period, mainly due to the sharp 10% drop in June). Production remains heavily concentrated in smelting and phosphate‑fertilizer provinces such as Yunnan, Inner Mongolia, Guangxi, Anhui, Henan, and Shandong—with Yunnan ranking first at about 1.24 million tons per month. Smelter acid (by‑product from copper/zinc processing) forms the supply backbone, while acid for phosphate fertilizer drives the bulk of demand.

[SMM Lead Morning Update: US Dollar Weakness Lifted LME Lead to a Near Two-Month High] SMM, August 13: Overnight, LME lead opened at $1,905/mt, consolidated during the day, and traded most of the time in the $1,905-1,910/mt range...

[SMM Lead Morning Meeting Minutes: Macro Tailwinds Boost Lead Prices; Watch for Risks of a Retreat After Rapid Rise Amid Tug-of-War between Sellers and Buyers] The macro front saw mixed signals. A weaker US dollar lifted base metals broadly, and lead prices may continue to consolidate at highs. Fundamentals side, supply-side expectations for production cuts remain...