According to the General Administration of Customs statistics flash, from January to May 2026, China's household appliance exports reached 1.917549 billion units, up 4.1% YoY from 1.842568 billion units in the same period last year; export value was $42.785 billion, up 4.3% YoY from $41.017 billion. In May alone, household appliance exports stood at 419.892 million units; export value was $8.982 billion, up 9.5% YoY.

Data from the General Administration of Customs show that from January to May 2026, China's total import and export value of mechanical and electrical products reached $1,599.74 billion, up 24.6% YoY. Specifically, the export value of mechanical and electrical products was $1,089.89 billion, up 22.4% YoY. A breakdown shows that the YoY growth rates of export values for integrated circuits, automobiles (including chassis), and automatic data processing equipment and parts all exceeded 30%.

[Geopolitical Risks Subside: How Will the Zinc Market React?] The Middle East conflict has recently shown clear signs of de-escalation. The market is now fully pricing in a U.S.-Iran agreement and the resumption of shipping through the Strait of Hormuz. What impact will this have on the zinc market?

Time flies as the midpoint of 2026 approaches. The zinc concentrate market has witnessed another extraordinary price cycle this year. As of June 12, domestic zinc concentrate treatment charges (TCs) plunged to -50 yuan per metric ton of zinc metal, marking the arrival of negative TCs. Meanwhile, TCs for imported zinc concentrate tumbled to -71.2 US dollars per dry metric ton, both hitting all-time record lows.

[SMM Tin Midday Review: The Most-Traded SHFE Tin Contract Fluctuates at Highs, Spot Trading Sentiment Further Weakens]

The global stainless steel market navigated a series of sharp sentiment. The opening weeks saw Indonesia's mill closures and price hikes push the cost narrative to its highest point of the year, before a combination of easing geopolitical tensions triggered the first price reduction since December 2025. The month's defining characteristic was similar to April's. What differentiated May was the sharply higher amplitude of both the policy signals and the emotional swings that accompanied them.