SMM Weekly Operating Rate of Secondary Lead Smelters, 2025.8.22-2025.8.28 [SMM Lead Weekly Review]

SMM Aug. 29:

During August 22-28, 2025, the weekly operating rate of secondary lead smelters in four provinces stood at 35.3%, down 4.11 percentage points WoW. Production conditions at smelters in Henan and Jiangsu showed relatively small changes WoW, while Anhui smelters saw increased output cuts and suspensions due to loss pressure, dragging down the regional operating rate by approximately 7 percentage points. Additionally, some Anhui smelters plan maintenance shutdowns next week, and SMM expects the regional operating rate to drop another 2 percentage points. Inner Mongolia smelters generally reported poor raw material arrivals, with maintenance plans at a major local refinery in September largely confirmed. This week's regional operating rate fell over 9 percentage points, and SMM forecasts a potential decline exceeding 21 percentage points next week in Inner Mongolia. Overall, persistent losses and raw material supply pressures have severely dampened production enthusiasm among secondary lead smelters.

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