SMM News on November 7:
During October 31, 2025 to November 6, 2025, the weekly operating rate for secondary lead in four provinces was 50.65%, increasing 7.24 percentage points WoW. After half a year, the operating rate of secondary lead smelters in Anhui finally returned to above 50%, as large smelting enterprises under maintenance in the region have resumed production with output gradually climbing; the operating rate in the region is expected to rise further next week. Production remained relatively stable in Henan and Jiangsu, with minimal changes in their operating rates. Due to continued tight supply of lead ingots in the northern market, smelters in Inner Mongolia reported strong sales orders; it is understood that current pre-sold lead ingots awaiting delivery exceed 10,000 mt, leading to a notable increase in the region's operating rate. Supply in the waste lead-acid battery market remained relatively stable, and with ample raw material inventory at most enterprises, SMM expects the secondary lead operating rate to maintain an upward trend next week.
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