SMM May 23 Report:
From May 17, 2025 to May 23, 2025, the weekly operating rate of secondary lead smelters in four provinces tracked by SMM was 36.71%, a decrease of 0.51 percentage points WoW. During the week, secondary lead smelters significantly adjusted their raw material procurement quotes. With the cost support from lead prices weakened, the price center of gravity shifted downward, and the production enthusiasm of secondary lead smelters further diminished. Although some enterprises slightly increased production due to a drop in scrap battery prices, prompting recyclers to sell off their inventory amid fears of further price declines, this was mainly to fulfill long-term contracts. This week, a large secondary lead smelter in Inner Mongolia resumed production, significantly increasing the regional operating rate, while the other three provinces remained relatively stable. As a smelter in Anhui Province plans to halt production for maintenance at the end of this week, the operating rate in Anhui Province is expected to decline significantly next week.
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