China produced 248,800 mt of refined lead in May, down 8.36% MoM and 5.75% YoY. The combined output in January-May declined by 1.98% from a year ago. Production capacities of enterprises involved in the survey totalled 5.71 million mt in 2022.
The overall domestic copper cathode output in May was at a low level due to the intensive maintenance. Although two smelters in Shandong resumed production in May, the production of copper did not resume.