SMM January 16:
The weekly operating rate of secondary lead smelters in four provinces was 50.38% during January 9-15, 2026, up 1.37 percentage points WoW. After environmental protection-related controls were lifted in Anhui, local secondary lead enterprises generally increased production. Last week, individual enterprises in Henan underwent production cuts due to production line maintenance, but after resuming operations this week, the regional operating rate rose by 1.71 percentage points. The operating rate in Jiangsu remained relatively stable, while individual smelters in Inner Mongolia suspended production for holidays, leading to a slight decline in the operating rate.
Enterprises in Henan indicated that a new round of environmental protection-related controls has been initiated, and subsequent production is expected to decline; a large smelter in Inner Mongolia reported tight raw material inventory and imminent production suspension. In addition, a sharp increase in finished product inventory pressure at secondary lead smelters has dampened production enthusiasm. SMM expects the operating rate of secondary lead to drop by more than 5 percentage points next week.
》Order to View SMM Metal Spot Historical Prices
