This week (May 1, 2026 - May 7, 2026), the average operating rate of primary lead smelters in three provinces was 65.88%, up 1.26 percentage points WoW. This week, two small and medium-sized lead smelters in Hunan and Yunnan completed maintenance and resumed production, with regional lead smelting output increasing slightly; Henan smelters maintained stable production, with the overall operating rate basically flat WoW; other regions, some small and medium-sized smelters in east China recovered after maintenance, and production rebounded.
![Macro Situation Changes Frequently; Fundamentals Remain Firm: Subsequent Lead Prices May Dip and Then Rebound [SMM Lead Market Weekly Forecast]](https://imgqn.smm.cn/usercenter/mIbTL20251217171721.jpg)
![Lead prices weaken, raw material costs stay firm, and smelter losses continue [SMM Secondary Refined Lead Weekly Review]](https://imgqn.smm.cn/usercenter/xVgcv20251217171721.jpg)
![Multiple Factors Drive Significant Decline in Primary Lead Enterprise Inventory [SMM Primary Lead Inventory Weekly Review]](https://imgqn.smm.cn/usercenter/bAjSC20251217171721.jpg)
