According to SMM data, the weekly comprehensive operating rate of lead-acid battery enterprises across five provinces in China stood at 72.05% during September 18-24, 2026, remaining stable WoW.
This week was the week before the Mid-Autumn Festival. Lead-acid battery enterprises generally maintained normal production, while the customary pre-holiday stockpiling had largely concluded. It is expected that before the National Day holiday, downstream enterprises will focus on picking up lead ingots. Recently, downstream enterprises have been arranging pre-holiday matters one after another. The Mid-Autumn Festival holiday ranged from 0 to 3 days, with most enterprises taking 1 day off. It is expected that the weekly operating rate of lead-acid batteries will decline next week due to the holiday impact.

![During China's holiday period, LME lead continued to consolidate within a range [SMM Lead Morning Update]](https://imgqn.smm.cn/usercenter/mfCMp20251217171721.jpeg)
![Low Pre-Holiday Lead Ingot Inventory and Weak Trading; Lead Prices Expected to Consolidate on a Subdued Note [SMM Lead Morning Meeting Summary]](https://imgqn.smm.cn/usercenter/XMxKT20251217171720.jpeg)
