[Consumption Expectations Were Gradually Realized, Operating Rates of Galvanising Producers Continued to Increase]: This week, the operating rate of the galvanizing industry was 59.7, up 6.69 percentage points WoW. Raw material side, zinc prices pulled back sharply this week, galvanising enterprises actively fixed prices to stockpile, and zinc ingot inventory at galvanising enterprises increased significantly.

[Zinc Fundamental Trading Logic Amid the Middle East Conflict: Risk Identification and Opportunity Capture] Global geopolitical conflicts have continued unabated, and news of the recent Middle East conflict has emerged frequently. What impact will this have on the zinc industry? This article provides an analysis from both fundamental and market perspectives:

According to the latest customs data, China’s export volume of galvanized sheets in March 2024 was 1.2003 million tons, a month-on-month increase of 43.83%, and a year-on-year increase of 25.41%; the cumulative export volume from January to March 2024 was 2.964 million tons, a year-on-year increase of 19%.

[SMM Analysis: Have Sino-US Tariff Conflicts Eased? Can the Export Level of Galvanized Sheet Be Maintained in May?] According to the latest customs data, for galvanized sheet, exports in April 2025 reached 1.2901 million mt, with cumulative exports from January to April 2025 totaling 4.6775 million mt, representing a 14.84% YoY increase compared to 4.0732 million mt in the same period of 2025. Overall, the export performance of domestic galvanized sheet remained robust in April...

According to the latest customs data, the export volume of galvanized sheets in January 2024 was 929,000 tons, and the export volume of galvanized sheets in February 2024 was 834,600 tons, a month-on-month decrease of 10.16% and up 6.83% year on year; the cumulative export volume of galvanized sheets from January to February 2024 was 1.7636 million tons, a cumulative increase of 15% from 1.5336 million tons in 2023. Export volumes in January and February were at the highest level in the recent three years.

SMM Analysis: As Q1 is about to end, domestic cold-rolled prices have continued the level from Q4 last year, fluctuating rangebound overall, with market sentiment for galvanized sheet procurement remaining relatively cold. January-February coincided with the Chinese New Year holiday, and due to corporate holidays, domestic galvanized sheet production dropped to a low at the end of the year...