[Important data] SMM China metal production data was released in February 2024.
Primary Lead In February 2024, the national output of electrolytic lead was 276,100 tons, down 5.94% from the previous month and 2.91% from the same period last year. The cumulative volume in January and February was flat year-on-year. In 2024, the total production capacity of enterprises involved in research was 6,006,300 tons.
According to the investigation, the national electrolytic lead output decreased as scheduled in February, mainly because February coincided with the Spring Festival holiday. Although most primary lead smelting enterprises produced as usual, some small and medium-sized smelting enterprises in Hunan and Henan took the opportunity to have a holiday or carry out maintenance during the Spring Festival. February (natural month) falls on the 29th, and the output of lead smelting enterprises shrinks due to the reduction of working days. In addition, smelting enterprises in Qinghai stopped production and carried out renovation and expansion, which is expected to last until September this year, bringing about a large reduction, so the decline in electrolytic lead output in February was higher than expected.
Looking forward to March, the Spring Festival factor was lifted. Combined with March (natural month) being 31st, the production of lead smelting enterprises increased conveniently, and the overhaul of lead smelting enterprises in Hunan, Yunnan, Henan, Guangdong and other regions ended, which became the main factors for the pre-increase of electrolytic lead output this month. At the same time, large-scale delivery brand enterprises in Henan and some smelting enterprises in Hunan planned to overhaul, which made the increase in electrolytic lead production in March discounted.
On the whole, SMM predicts that the output of electrolytic lead will increase by over 10,000 tons in March to 287,000 tons. In Mar, tin Solder Wire, bar and other leaded Solder production would be in steady based on materials cost.
