SHANGHAI, May 29 (SMM) – Operating rates across primary lead smelters in Henan, Hunan and Yunnan provinces averaged 52.3% in the week ended May 29, unchanged from the week before, showed an SMM survey.
The respective rates for Henan, Hunan and Yunnan stood at 63.8%, 45% and 33.6%, all flat from the previous week.
With stable operations, inventories of finished goods at primary lead smelters are growing due to sluggish consumption.
Yunnan Chihong put its smelting stage under maintenance starting May 20, and its production of refined lead is expected to feel the impact in June to July.

![Weekly Review of Lead Futures Prices (2026.3.20-2026.4.3) [SMM Lead Weekly Review]](https://imgqn.smm.cn/usercenter/riosq20251217171722.jpg)
![Weekly Brief Review of the Lead Concentrates Market (March 30, 2026 - April 03, 2026) [SMM Lead Concentrates Weekly Review]](https://imgqn.smm.cn/usercenter/bAjSC20251217171721.jpg)
![The Off-Season in Consumption Is Expected to Arrive Soon, Trading in the Primary Lead Spot Market Was Muted and Premiums Declined [SMM Weekly Review of the Refined Lead Spot Market]](https://imgqn.smm.cn/usercenter/LCtEk20251217171721.jpeg)
