According to the old sample, the comprehensive operating rate of lead concentrate enterprises in May was 56.40%, up 3.20 percentage points MoM and 8.07 percentage points YoY. According to the new sample, the comprehensive operating rate of lead concentrate enterprises in May was 62.56%, up 1.41 percentage points MoM and 7.29 percentage points YoY.
According to the SMM survey, the operating rate of lead concentrate increased as expected in May, with the main increase coming from the production ramp-up of mines in Inner Mongolia and Tibet after resuming production. Additionally, some lead-zinc mines mentioned ore grade fluctuations, with a slight decline in zinc metal grade and a slight increase in lead metal grade, resulting in minor changes in lead-zinc metal production. Small-scale lead-zinc mines faced temporary rectification due to the expiration and renewal of mining licenses, but the impact on the total metal output was relatively limited. Entering June, mine production is still expected to increase slightly. According to the new sample, the operating rate of lead-zinc mines in May is expected to increase by 1.1 percentage points to 57.5%.
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