According to SMM, a zinc smelter in central China plans to conduct maintenance for 15 days in mid-June, which is expected to affect around 5,000 mt. SMM will continue to track the actual maintenance situation.

[Temporary Maintenance at a Zinc Smelter in Central China] According to SMM, a zinc smelter in Central China began temporary maintenance on May 1 due to equipment damage. The maintenance is expected to last more than 20 days, with an estimated overall impact of approximately two-thirds of the month's production.

SMM May 6 News: The most-traded SHFE lead 2606 contract opened at 16,690 yuan/mt during the session. Driven by a broad rally in non-ferrous metals at the start of trading, futures held up well with a fluctuating trend, and the lead price center steadily rose, touching a high of 17,005 yuan/mt. Near the close, the rally slowed down somewhat, with prices consolidating slightly at high levels, ultimately closing at 16,980 yuan/mt, up 350 yuan/mt or 2.1%, recording a small bullish candlestick. Currently, domestic secondary lead smelters are constrained by undersupply of scrap battery raw materials, with increasing production cuts and shutdowns. Regional supply contraction supported spot cargo and futures. A sudden safety accident at a major lead-zinc smelter outside China introduced uncertainty to the subsequent global lead ingot supply, which is expected to provide short-term support for domestic lead prices. However, the consumption side in China remained persistently weak, with no notable improvement in downstream demand in May. Combined with the high probability of intensifying lead ingot inventory buildup pressure after the holiday, upside room for lead prices will be constrained. SHFE lead is expected to maintain a fluctuating trend in the short term. Data source statement: Data other than public information is derived from public information, market communication, and SMM's internal database models, processed by SMM for reference only and does not constitute decision-making advice.

[SMM Lead Morning Meeting Minutes: Accident at Ex-China Lead Smelter, Lead Prices May Be Boosted in the Short Term] The US Secretary of Defense stated that the ceasefire has not ended, that the "freedom plan" in the Strait of Hormuz is a temporary mission, and that engagement is not being sought. During the Labour Day holiday, downstream enterprises in China went on concentrated holidays, while from April to May, more lead smelters underwent maintenance or production shutdowns...

[A zinc smelter in south-west China plans to increase production at the end of Q2] According to SMM, a zinc smelter in south-west China plans to double its production from late May to early June due to easing raw material supply.

[A Zinc Smelter in Central China Plans to Undergo Maintenance in Mid-May] According to SMM, a zinc smelter in central China plans to undergo maintenance in mid-May. The maintenance is expected to last about one month, with an estimated overall impact of around 4 kt. SMM will continue to track the actual maintenance progress.