This week (June 19, 2026 - June 25, 2026), the average operating rate of primary lead smelters in three provinces was 66.96%, rebounding 1.77 percentage points WoW.
This week, smelters in Hunan maintained stable production, with the overall operating rate basically flat WoW; a medium-sized smelter in Henan continued to ramp up production, driving a slight rebound in local operating rates; a small secondary lead plant in Yunnan resumed production after the holiday, causing the regional operating rate to edge up in tandem; production pace in other regions saw no significant changes, with operating rates remaining consistent with the previous week.
![Holiday Factors Drive Significant Decline in Lead-Acid Battery Weekly Operating Rate [SMM Lead-Acid Battery Weekly Operating Comment]](https://imgqn.smm.cn/usercenter/mfCMp20251217171721.jpeg)
![End-user procurement is weak and inventories are rising, and destocking space is limited in the short term [SMM Secondary Lead Inventory Weekly Review]](https://imgqn.smm.cn/usercenter/TmYox20251217171721.jpeg)
![SHFE/LME Price Ratio Rebounds, Import Crude Lead Supply Activity Rises [SMM Secondary Crude Lead Weekly Review]](https://imgqn.smm.cn/usercenter/riosq20251217171722.jpg)
