SMM August 21 news:
During August 14-20, 2026, the SMM weekly operating rate for secondary lead in four provinces was 40.4%, up 3.32 percentage points WoW. Smelters in Jiangsu and Anhui maintained stable production; in Henan, enterprises slightly ramped up production after raw material replenishment, with the operating rate rising 0.69 percentage points; in Inner Mongolia, large-scale smelters continued production ramp-ups from resumptions, driving a significant 29.55-percentage-point increase in the local operating rate. Looking ahead to next week, the market holds phased positive expectations for lead prices, which is expected to boost smelters' production willingness. However, smelters in all four regions remain constrained by raw material supply, with raw material shortages limiting further production releases. Overall, the operating rate for secondary lead in four provinces is expected to remain basically flat.
![[SMM Flash] 73,500 mt Sulfur from Guizhou Phosphate Chemical Group Arrived Smoothly at Port](https://imgqn.smm.cn/usercenter/uoTGi20251217171713.jpg)
![SHFE lead surged past 16,000 yuan/mt in night session, SHFE and LME jointly consolidate on a strong note at high levels [SMM Lead Morning Briefing]](https://imgqn.smm.cn/usercenter/xVgcv20251217171721.jpg)
![Lead price center rises & spot lead long-term contract dominates. Spot lead supply and demand is weak, supplier sentiment diverges clearly [SMM Lead Morning Meeting Summary]](https://imgqn.smm.cn/usercenter/bAjSC20251217171721.jpg)