SMM Secondary Lead Smelter Weekly Operating Rate (2026.7.3-2026.7.9) [SMM Lead Weekly Review]

SMM July 10 news:

From July 3 to July 9, 2026, the SMM weekly operating rate of secondary lead across four provinces was 30.6%, down 3.27 percentage points WoW. In Anhui, one smelter cut production due to insufficient raw material inventory; meanwhile, another local smelter planned to halt production after depleting its raw material inventory, which significantly boosted output this week. As a result, the regional operating rate increased by about 11 percentage points WoW. In Henan, raw material arrivals at smelters were better than in other regions. Individual smelters ramped up production this week, lifting the regional operating rate slightly. In Jiangsu and Inner Mongolia, smelters cut production due to losses, with their operating rates down by 1 and 8 percentage points, respectively. Looking ahead to next week, attention should be paid to extreme weather and raw material arrivals, as well as the impact of downstream purchasing intensity on lead price trends. Barring special circumstances, the secondary lead operating rate across the four provinces is expected to remain stable with a slight decline.