SMM May 16 Report:
From May 10, 2025 to May 16, 2025, the weekly operating rate of secondary lead in four provinces tracked by SMM was 37.22%, a decrease of 0.43 percentage points WoW. This week, the operating rate of secondary lead continued to decline. Some smelters reported that recyclers were reluctant to deliver scrap batteries, resulting in a low volume of scrap batteries arriving at the plants and making it difficult to accumulate raw material inventory. Meanwhile, the demand for lead ingots from downstream battery producers was weak. Tight raw material supply and losses in the market have dampened the production enthusiasm of secondary lead smelters. However, as a significant number of smelters have already reduced or halted production, the subsequent decline in the operating rate may slow down.
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