SMM Primary Lead Smelter Weekly Operating Rate (August 28-September 3, 2026) [SMM Primary Lead Operating Weekly Review]

It is understood that this week (28 August-3 September 2026), the combined operating rate of primary lead smelters in the three provinces was 62.83%, down 0.98 percentage points WoW.

For primary lead, maintenance at smelters remained the dominant factor in the market this week, dragging the combined operating rate further lower. During the week, primary lead smelters in Hunan and Yunnan saw both maintenance and production resumptions, but the enterprises resuming production were mostly small-scale, and some were still in the equipment commissioning stage, with limited capacity release. This provided limited support to the overall operating rate and was unable to reverse the downward trend in the weekly operating rate. In addition, large and medium-sized smelters in Inner Mongolia are still under maintenance, which is expected to conclude gradually in October. In the short term, primary lead operating rates are expected to remain at low levels.