According to China Customs data, China imported 2.7616 million tonnes (gross weight) of zinc concentrate during January–June 2026, up 8.98% year on year, with overall imports posting modest growth compared with the same period last year.

In H1, focusing on "extreme operations," Southwest Aluminum coordinated capacity release, cost control, and quality improvement, with production up 10.5% YoY. Cumulative cost reductions exceeded 100 million yuan, and the comprehensive finished-product rate steadily improved, delivering a solid midterm report. From January to June, Southwest Aluminum's comprehensive finished-product rate exceeded the plan by 0.75 percentage points, while the Class A product rate surpassed the plan by 1.92 percentage points.

[SMM Express] South Africa's mining production remained under pressure in May 2026 as weaker performances across key bulk commodities weighed on total output. Against this backdrop, chrome stood out as one of only two major commodities to record positive year-on-year production growth, highlighting its continued resilience amid a broader industry slowdown. Key reads from the disclosures: (i) Relative outperformance: Chrome was among only two commodities to post positive production growth in May, outperforming most of South Africa's mining sector. (ii) Structural demand support: Continued demand from China's stainless steel industry and ferrochrome sector remains supportive of chrome production. (iii) Industry resilience: Chrome producers have continued to expand output despite weaker mining conditions affecting several other commodities. (iv) Strategic importance: Chrome's stronger production performance further reinforces its role as one of South Africa's most resilient mining commodities and an increasingly important contributor to export earnings. Watchlist. Although chrome continues to outperform the broader mining sector, production momentum will depend on sustained Chinese demand, logistics efficiency across rail and ports, reliable power supply, and the pace of new UG2 chrome recovery capacity additions. Continued weakness in South Africa's overall mining industry could also weigh indirectly on future investment and operational activity.

[Bigger Logistics Reset Underway — Afrexim Loan, China-Backed Mega Financing and Reopened Mozambique Rail Line Reinforce Zimbabwe's Chrome Export Corridor] 1. NRZ is finalizing a US$115 million loan from Afreximbank to rehabilitate rail infrastructure and refurbish locomotives, announced in early June. 2. Government is exploring mineral-backed financing with China — including talks with China Railway — for an estimated US$34 billion national transport-and-logistics modernization plan, modelled on the DRC's Sicomines resource-for-infrastructure deal; Finance Minister Mthuli Ncube confirmed the discussions at the World Economic Forum in Dalian last month. 3. The Mozambique–Zimbabwe rail line has reopened after a four-month closure, alongside ongoing NRZ recapitalization under a three-phase turnaround strategy — measures that directly cut chrome and ferrochrome export lead times to Asian, European and American stainless-steel mills. 4. The Chamber of Mines of Zimbabwe has singled out Zimasco and Afrochine (Tsingshan) to lead ferrochrome production growth, with both operators already running material volumes through the Maputo-bound rail network.

Beijing time July 21, Vale released its operational performance report for Q2 2026. The report shows: Production: In Q2 2026, iron ore production totaled 84.3 million mt, up 1% YoY (700,000 mt), driven by record production at S11D and the growth from the Capanema project and the Vargem Grande 1 (VGR1) project. Iron ore pellet production totaled 7.3 million mt, down 7% YoY (500,000 mt), related to the temporary suspension of operations at the Oman plant for part of the quarter. In the iron ore business, improved performance across multiple operations drove the highest Q2 production since 2018. Iron ore sales: In Q2 2026, iron ore sales reached 79.7 million mt, up 3% YoY (2.4 million mt), supported by inventory sales and production growth.

[SMM Analysis: VC Supply-Demand Tight Balance to Persist in Short Term; HSC 60,000 mt Project Adjustment May Reshape Industry's Long-Term Competitive Landscape] On July 11, 2026, HSC New Energy Materials issued an announcement, making a major adjustment to the construction plan for the 60,000 mt vinylene carbonate (VC) project in Yunmeng, Hubei: The original phased construction plan for 30,000 mt in Phase I and 30,000 mt in Phase II was canceled and changed to a one-time overall construction of 60,000 mt VC capacity. The total project investment remains unchanged at 1.6 billion yuan, and the construction site, investment entity, and overall time to reach full production remain unchanged.