[Ore Supply Tightness Remains Unchanged, Domestic and Imported Zinc Concentrate TCs Continue to Decline]: Based on weekly data, the SMM Zn50 domestic weekly average TC fell 250 yuan/mt Zn WoW to 150 yuan/mt Zn, and the SMM imported zinc concentrates index dropped $7.19/dmt WoW to -$63.44/dmt.

[Lead-Zinc Miner Updates] Recently, the Phase I flotation beneficiation plant project of Hezhang Dingshengxin Mining Development Co., Ltd. achieved a major milestone, with the semi-autogenous grinding mill and ball mill systems successfully completing no-load joint trial runs. This marked that the Zhugongtang super-large lead-zinc mine's mining and beneficiation project has fully entered the stage of combined equipment commissioning. It is reported that the Phase I flotation beneficiation plant of the Zhugongtang lead-zinc mine is expected to be ready for clean water trial runs by the end of June this year, ready for feed trial runs in August, and is striving to officially enter trial production by the end of September, at which point it will initially achieve a production capacity of proc

According to the latest customs data, China imported 447,700 mt in physical content of zinc concentrates in April 2026, down 17.95% MoM from March (97,900 mt in physical content) and down 9.49% YoY. Cumulative zinc concentrate imports from January to April totaled 2.0021 million mt in physical content, up 16.92% YoY cumulatively.

[Lead Smelter Updates] It was reported that Yuguang Gold and Lead Group stated on an interactive platform that Zhuye Group holds the mining rights to the Shuikoushan lead-zinc mine and the Baifang copper mine, with 3 mines (the Kangjiawan mine and the lead-zinc mine both fall under the Shuikoushan lead-zinc mine mining rights) and 1 beneficiation plant, possessing an annual mining and beneficiation capacity of 860,000 mt of raw ore. Its captive mines produce lead concentrates, copper concentrates, gold concentrates, and other mineral products, providing raw material support for its operations.

[Continuous Overseas Supply Disruptions Drive SHFE and LME Zinc Prices Higher] At the beginning of the week, LME zinc continued the fluctuating trend from last week; subsequently, zinc prices edged down as the U.S.-Iran peace agreement was not reached; however, the ongoing fermentation of Peru's energy emergency decree drove a broad rally in non-ferrous metals, and LME zinc rebounded; immediately after, Zazzinc's lead-zinc mine in Kazakhstan reduced its operating load following an accident, and LME zinc continued to surge......

The year 2026 marks the opening year of the "15th Five-Year Plan" period. Against the backdrop of intensifying global macro volatility and the deepening advancement of high-quality development in China, the zinc industry is undergoing profound transformation: tightness on the ore side and the release of smelting capacity are creating structural tension, divergence between domestic and overseas inventories reflects the complex dynamics of supply-demand rebalancing, and technological innovation is becoming the key momentum for resolving contradictions and reshaping the landscape. Key areas under the "15th Five-Year Plan" such as new energy and new-type infrastructure are injecting new momentum into traditional zinc consumption, while green, low-carbon, and circular economy principles are accelerating the restructuring of industrial logic driven by technological innovation. With the joint support of upstream and downstream enterprises in the zinc industry, industry associations, and relevant parties, SMM is about to hold the 2026 SMM Zinc Industry Conference & the 8th Hot-Dip Galvanizing Industry Development and Technological Innovation Forum & the 14th Zinc Salt, Zinc Oxide and Zinc Secondary Resources Development Forum & the Zinc-Based Materials Development Forum on August 6-8 in Qingdao, Shandong. Themed "Converging Zinc Momentum · Building Zinc Industry · Embarking on a New Journey," the conference is driven by the dual engines of macro perspectives and fundamental analysis, closely aligned with the "15th Five-Year Plan" high-quality development mainline, focusing on four major dimensions: macro policies, supply-demand patterns, global trade, and technological innovation. It aims to drive cost reduction and efficiency improvement through technological breakthroughs, respond to market fluctuations through collaborative innovation, and jointly chart a new blueprint for high-quality and sustainable development of the zinc industry. Gansu Changba Nonferrous Metals Co., Ltd. will attend this grand event, discussing industry development trends with industry peers and jointly driving the zinc industry to new heights. Click the to register now, witness and participate in this significant and far-reaching industry event, and co-create a glorious new chapter! ◆ Company Overview ◆ Gansu Changba Nonferrous Metals Co., Ltd. is a subsidiary of Baiyin Nonferrous Group Co., Ltd., with Chengzhou Zinc Smelter and Changba Lead-Zinc Mine under its management. It is a large state-owned nonferrous metals enterprise integrating lead-zinc mining, mineral processing, smelting, and scientific research. Chengzhou Zinc Smelter currently has an annual electrolytic zinc production capacity of 100,000 mt. It is a modern smelter integrating zinc metal smelting, comprehensive utilization of resources, and R&D of new nonferrous metal smelting processes. The enterprise adheres to the development direction of "lean collaboration, digital integration, and green leadership," closely aligned with the goal of creating the ultimate quality benchmark. It has continuously made breakthroughs in improving zinc smelting quality. In 2026, the first batch of high-purity zinc ingots with a purity of 99.998% was successfully produced, injecting solid momentum into further enhancing the enterprise's core competitiveness, expanding the high-end zinc materials market, and driving high-quality development of the enterprise. The Chengzhou Zinc Smelter has always adhered to the pursuit of excellence and perfection. With the successful production of 99.998% high-purity zinc ingots as a major breakthrough, the smelter has continued to increase investment in scientific research, actively introduced advanced and applicable production technologies and equipment, focused on building a high-caliber professional and technical talent team, continuously optimized the production process for 99.997% high-purity zinc ingots, and steadily carried out technical research on even higher-purity zinc products. ◆ Honors Bestowed: Quality Certified by Authoritative Bodies ◆ The outstanding quality of the 99.998% high-purity zinc ingots has been widely recognized by authoritative institutions both within and outside the industry, with numerous prestigious awards attesting to their quality excellence: · Technology Innovation Awards: Leveraging core technological breakthroughs such as "Research and Application of Low-Impurity Electrolytic Zinc Standard Creation," the smelter won the "Second Prize of Nonferrous Metals Industry Science and Technology Award," the "First Prize of Gansu Province Science and Technology Progress Award," and the "Grand Prize of Science and Technology of CITIC Guoan Group Co., Ltd.," with its technical capabilities recognized at national, provincial, and municipal/county levels. The "R&D and Application of High-Grade Zinc Ingot Preparation Process Technology" won a Bronze Award at the 11th International Invention Exhibition "Belt and Road" and BRICS Skills Development and Technological Innovation Competition. "Full-Process Lean Management Control for Creating Excellent Zinc Ingot Quality" won the Second Prize of the 2025 Nonferrous Metals Enterprise Management Modernization Innovation Achievement Award. The smelter built Nanshi's first 5G+ digital workshop, deployed industrial robots and unmanned AGV systems, achieved full-process automation of ingot production, and improved production efficiency by 30%. · Product Quality Awards: The main product, zinc ingots (including the 99.997% grade), together with the by-product sulphuric acid, were awarded the highest honor in nonferrous metals product physical quality certification — the "Gold Cup Award," serving as an authoritative endorsement of their quality stability and superiority by the industry. In 2025, the smelter was recognized as a "Premium Brand" by the CNIA. · Market Access Certification: The main product, zinc ingots, was successfully registered on the Shanghai Stock Exchange, obtaining standardized market circulation qualifications. The brand value reached 2.482 billion yuan, ranking 31st nationwide among "Product Brands," laying a solid foundation for the market promotion of 99.997% high-purity zinc ingots. ◆ Diverse Applications: Empowering High-End Industrial Development ◆ Due to its extremely low impurity content and excellent chemical stability, the 99.998% high-purity zinc ingot demonstrates irreplaceable application value in multiple high-end fields: · High-End Electronics: As a core raw material for electronic component coatings, its low-impurity characteristics effectively enhance the conductivity and service life of electronic devices, and it is widely used in the production of precision electronic components such as integrated circuits and smartphone chips. · Aerospace: Used in anti-corrosion coatings for aerospace components and lightweight alloy material manufacturing, its stable physicochemical properties can adapt to extreme environments, ensuring the reliability of aerospace equipment. · Pharmaceutical and Chemical Industry: Serving as raw materials for pharmaceutical intermediates and high-end catalysts, its high-purity characteristics ensure product safety and efficacy, meeting the stringent standards of the pharmaceutical and chemical industry. · New Energy: In the production of new energy products such as zinc-based batteries and energy storage equipment, high-purity zinc ingots can enhance battery energy density and cycle life, facilitating the upgrading of the new energy industry. ◆ Outstanding Performance: Market Recognition Demonstrates Strength ◆ With a zinc ingot capacity of 100,000 mt, the 99.998% high-purity zinc ingots, leveraging core advantages of low lead, low iron, and low cadmium, received strong recognition from downstream clients upon market launch, delivering impressive market results: · Industry-Leading Zinc Ingot Quality: Zinc ingot purity reaches 99.998%, with lead content at 0.0009%, iron content stable at 0.0003%, and cadmium, tin, and aluminum consistently maintained at 0.0002%, placing it at a leading level in the ISP zinc smelting industry. · Extensive Market Coverage: Products were rapidly sold to core markets such as Shanghai and Xuzhou, covering multiple sectors including high-end electronics and precision manufacturing, breaking the supply bottleneck of high-end high-purity zinc ingots. · Leading Client Satisfaction: With stable purity, extremely low impurity content, and reliable supply capability, a stable client base and strong market reputation have been established. Client satisfaction in 2025 reached 100%. ◆ Future Outlook: Continuously Leading High-Quality Development ◆ Chengzhou Zinc Smelter consistently adheres to the pursuit of excellence and perfection. Taking the successful production of 99.998% high-purity zinc ingots as a significant breakthrough, it continues to increase R&D investment, actively introduces advanced and applicable production technologies and equipment, focuses on building a high-caliber professional technical talent team, and continuously optimizes the production process for 99.997% high-purity zinc ingots while steadily advancing technical breakthroughs for even higher-purity zinc products. Meanwhile, it deepens industry-academia-research collaborative innovation, expands application scenarios of high-purity zinc in high-end manufacturing, new materials, and other fields, and promotes coordinated improvement and synergistic development across the upstream and downstream of the industry chain. The enterprise is anchored on the goal of building an industry-leading lean benchmark enterprise, continuously strengthening whole-process quality management, deepening green and low-carbon production, accelerating intelligent transformation and upgrading, and driving enterprise quality improvement, efficiency enhancement, and transformation with solid achievements, contributing tangible "Chengye Strength" to the high-quality development of the zinc smelting industry. ◆ Contact Information ◆ Long press to scan the code and register now 2026 SMM Zinc Industry Conference