Latest Update in the SMM Hydrogen Energy Market

[Galvanising operating rates reached a nearly three-year high in April. How did different regions perform?] April, as a traditional peak season, saw robust overall demand for galvanising. Due to issues such as tariffs, there was an early release of future demand, resulting in relatively good overall operating rates. How did North China, east China, and South China perform respectively? Can the robust trend continue in May?

[How Has the Downstream Consumption of Various Die-Casting Zinc Alloy Sectors Performed Recently Amid the Sino-US Joint Statement Boosting Market Vitality?] On May 12, China and the US issued the "Sino-US Joint Statement on the Geneva Economic and Trade Talks", easing trade tensions. Amid the ever-changing macro landscape, how has the recent downstream consumption of China's die-casting zinc alloy performed? First, from the perspective of zinc prices and the operating rate of die-casting zinc alloy, domestic zinc prices in April continued to decline due to macro fluctuations, reaching a new low in 2025 and falling below 22,000 yuan/mt. The low prices prompted most end-users to buy the dip, coupled with some end-users in the market taking limited "rush exports" actions, thereby driving an improvement in orders for die-casting zinc alloy enterprises in April. The following analysis will delve into sectors such as real estate, auto parts, and exports...

[SMM Analysis:The mid-year negotiations are approaching, and the imbalanced supply-demand structure of copper concentrate will have far-reaching impacts ] Antofagasta’s mid-year negotiations with smelters in China, Japan, and South Korea are imminent, during which Antofagasta will launch negotiations with smelters. From the current situation, the outlook for buyers is not optimistic.