SMM July 3:
Over the week, lead prices fell below 16,000 yuan per tonne, losses pressured smelters in Anhui to temporarily halt production, dragging the regional operating rate down by 4.27 percentage points. Some enterprises await market recovery to resume production, and next week the regional operating rate is expected to rebound by 0.85 percentage points. The decline in lead price prompted a surge in scrap battery circulation, while smelters in Henan and Jiangsu ramped up production after restocking raw materials, lifting their operating rates by 7.18 and 1.8 percentage points respectively. Certain smelters in Inner Mongolia underwent maintenance and stopped production this week; their production resumption next week may drive the regional operating rate up by over 9 percentage points. Overall, operating rates next week are likely to post steady slight gains, with raw material supply and lead price trends remaining the key indicators to watch.
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