According to a survey by SMM, the operating rate of primary lead smelters this week (January 11–January 17, 2025) was 58.23%, down slightly by 0.49 percentage points WoW.
This week, smelters in Henan Province maintained stable production, with relatively ample refined lead supply, and the operating rate remained flat WoW. In Hunan Province, one primary lead smelter resumed part of its production lines, leading to a slight increase in supply this week, while the other two smelters that have not yet resumed production are expected to restart after the Chinese New Year holiday. In Yunnan Province, one smelter suspended production for maintenance this week, contributing to the main reduction, while other smelters maintained stable production. Outside the surveyed samples of the three provinces, in January 2025, a smelter in Guangxi Province saw a slight decline in primary lead production, a smelter in Jiangxi Province that had previously implemented slight production cuts has not yet resumed, and a smelter in Guangdong Province resumed crude lead production, with plans for a slight production increase next week.
》View More in the SMM Lead Industry Chain Database
![Geopolitical Tensions Eased, LME Lead Jumped to a Nearly Half-Month High [SMM Lead Morning Brief]](https://imgqn.smm.cn/usercenter/lIHfM20251217171721.jpeg)
![Macro Tailwinds Boosted Lead Prices; Follow-Up Attention on Fundamental Alignment [SMM Lead Morning Meeting Minutes]](https://imgqn.smm.cn/usercenter/XMxKT20251217171720.jpeg)
