SMM December 5:
During the period from November 28 to December 4, 2025, the weekly operating rate for secondary lead in four provinces was 48.37%, down 0.13 percentage points WoW. In Anhui, one secondary lead smelter halted production due to the renewal of its hazardous waste operation license and did not produce this week, leading to a 1.65 percentage point decline in the regional operating rate. In Henan, individual secondary lead smelters reported improved smelting profits and increased production, resulting in a 1.67 percentage point rise in the regional operating rate. Jiangsu Province activated a yellow alert for heavy pollution weather starting at 16:00 on December 4, implementing Level III emergency response measures under the "Jiangsu Province Heavy Pollution Weather Emergency Plan." Smelters indicated that production has not been affected so far. In Inner Mongolia, due to poor arrivals of raw materials, some large smelters reported critically low inventories of raw materials and expect to halt production next week, which may lead to a significant drop in the regional operating rate. In summary, attention should be paid next week to the impact of raw material supply, environmental protection-related controls, and lead price trends on the weekly operating rate of secondary lead.
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