SMM, December 5:
As of December 4, 2025, weekly finished product inventories of secondary lead fell 600 mt WoW to 1,480 mt, continuing to hit a new low since 2021. Spot order volumes from secondary lead smelters remained tight, mainly because secondary lead production in December did not see a significant increase but instead declined due to environmental protection-related controls, raw material supply, and equipment technological transformation issues. Coupled with maintenance at several primary lead smelters in December, overall lead ingot supply tightened. Entering next week, a large secondary lead smelter is still scheduled for maintenance, and spot order supply of secondary lead is expected to tighten further.
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