SMM Weekly Operating Rate of Secondary Lead Smelters (September 19–25, 2025) [SMM Lead Weekly Review]

Published: Sep 26, 2025 14:34

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SMM September 26:

During September 19-25, 2025, the weekly operating rate for secondary lead in four provinces was 27.47%, up 3.73 percentage points WoW. Due to pre-holiday stockpiling needs from downstream battery producers, lead ingot purchasing activity was high, and lead prices held up well. Meanwhile, secondary lead smelters had low operating rates earlier, waste lead-acid battery prices stabilized at low levels, and the loss range for secondary lead smelting was repaired, turning into profit. Notably, the operating rate in Anhui increased significantly by 8.25 percentage points due to production ramp-ups at some operating smelters. After the National Day holiday, secondary lead smelters are expected to enter a wave of concentrated production resumptions, and SMM expects the weekly operating rate for secondary lead to maintain an upward trend.

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