The average operating rate of primary lead smelters in three provinces this week (September 19, 2025 - September 25, 2025) was 66.49%, increasing slightly by 0.5 percentage points WoW. This week, a smelter in Henan resumed production as scheduled by month-end, with output increasing slightly, while another smelter in the region experienced a marginal decline in production due to maintenance on crude lead and has not yet recovered. Additionally, another smelter in Henan that underwent routine maintenance in September completed its maintenance this weekend and is expected to gradually restore production next week. In Hunan, a small-scale smelter saw a slight drop in output due to fluctuations in feed grade, while smelters in Yunnan maintained stable production. Besides these three provinces, a smelter in north China slightly increased production after resuming from maintenance, and a smelter in east China is expected to undergo maintenance shutdown in Q4, though the specific timing has not been confirmed; production remained stable this week.
