Vedanta Resources’ Konkola Copper Mines (KCM) has commenced a 60-day maintenance shutdown aimed at improving operational reliability across its mining and processing facilities and supporting future production growth. The company stated that the maintenance program covers key mining, processing, and supporting infrastructure assets and represents an important step in the mine’s ongoing operational recovery. Vedanta has previously committed to investing more than US$1 billion in KCM over the next five years to restore and expand production capacity. As one of Zambia’s major copper producers, Vedanta aims to increase KCM’s annual copper output to more than 300,000 tonnes in the coming years.

【SMM Steel】Taiwan's CSC is advising downstream customers to submit orders early for production planning as multiple facilities begin scheduled maintenance starting June. The schedule includes a 15-day shutdown at wire rod mill No.2 from June 26 to July 10, and a 24-day maintenance at the billet factory from June 11 to July 4. Bar mill No.2 will assist with rolling during the wire rod shutdown, and billets needed for deliveries before mid-July are already prepared. This marks CSC's third consecutive year of summer intensive maintenance to prepare capacity for H2 auto and construction demand.

During the survey period (May 26–June 1), the rebar rolling line operating rate in the Central China region remained stable, while the capacity utilization rate edged up.

June 1, 2026 — South Africa's national power utility Eskom announced on Friday, May 29, that the National Energy Regulator of South Africa (NERSA) had officially approved a temporary preferential electricity price of 0.62 rand/kWh for struggling ferrochrome producers Samancor Chrome and the joint venture enterprise between Glencore and Merafe Resources.

Since late April, aluminum billet processing fees in China's three major consumption regions staged a strong rebound, with South China taking the lead. Processing fees of φ120 aluminum billets (Guangdong) hit a Q2 low of -40 yuan/mt on April 16, then surged rapidly, approaching the 500 yuan/mt mark by month-end in May, and reaching a new yearly high of 490 yuan/mt on May 28. SMM believed there were three main reasons...

This week (May 22–28, 2026), the average operating rate of primary lead smelters across the three provinces was 62.98%, down 3.47 percentage points WoW. A large smelter in Henan recently commenced equipment maintenance, which weighed on the regional operating rate. The maintenance is expected to be completed by month-end, and the smelter will resume normal production next week, at which point the regional operating rate will rebound accordingly. A small-to-medium-sized smelter in Hunan entered a maintenance phase this week and plans to resume production in late July, causing the local operating rate to edge down. Smelters in other regions of China maintained stable production with no shutdowns or suspensions, and operating rates remained flat WoW.

[Weakening Consumption, Operating Rates of Galvanising Producers Continued to Decline]: The operating rate of the galvanizing industry was 58.33% this week, down 1.49 percentage points WoW. Raw material side, zinc prices fluctuated at highs this week, and downstream players restocked on dips for rigid demand, mainly to digest inventories, with zinc ingot inventories of galvanising enterprises declining notably. The decline in operating rates was mainly due to the onset of the consumption off-season, compounded by rainfall in multiple regions, which weakened end-use demand and led to a notable drop in galvanizing orders.

Saint-Gobain will discontinue production of its Alumina-Zirconia-Silica (AZS) line at the Falconer facility in the US, with production expected to end in August and 79 positions affected. The company said other product lines at the site will continue operating. Industry reports show AZS refractory manufacturing is facing rising energy costs, tighter environmental regulations and growing zirconium raw material shortages, driving production costs higher. Increasing demand for high-purity zirconia from sectors such as solid-state batteries, nuclear applications and advanced manufacturing is also intensifying raw material competition. Markets believe weaker North American construction demand and elevated operating costs continue to pressure profitability in related manufacturing sectors.

SMM May 28: During the session, the most-traded SHFE lead 2607 contract opened at 16,594 yuan/mt. After moving sideways within the range of 16,585-16,620 yuan/mt in early trading, prices shifted downward, with the price center continuing to decline. Prices dipped to a low of 16,555 yuan/mt before rebounding to move sideways within the range of 16,560-16,605 yuan/mt, ultimately closing at 16,595 yuan/mt. The contract recorded a small bearish candlestick, falling 135 yuan/mt, or 0.81%. This week, some smelters in North China and South China ended shutdowns and resumed production, and the operating rate of secondary lead smelters rebounded. Affected by weak downstream purchasing enthusiasm, finished product inventories at secondary lead smelters saw a slight inventory buildup this week, exerting some downward pressure on lead prices. In June, the pace of production resumptions at secondary lead smelters is expected to accelerate. It is necessary to continue tracking the progress of production resumptions and the impact of production release on lead prices going forward. Data source disclaimer: Data other than publicly available information was derived by SMM based on publicly available information, market communication, and SMM's internal database models. It is for reference only and does not constitute decision-making advice.

[SMM Lithium Battery Anode Raw Material Market Weekly Review: Weakening Costs Dragged Petroleum Coke Lower, Needle Coke Prices Held Steady Amid Tug-of-War Between Sellers and Buyers] May 28: China's low-sulphur petroleum coke market weakened overall this week, with prices declining significantly, down over 6% WoW.