[How Should Zinc Consumption Be Viewed Against the Backdrop of Geopolitical Conflicts?] Q1 2026 had passed, and the overall recovery in post-holiday consumption was somewhat delayed. How would consumption perform going forward?

According to the latest production schedule report on the three major white goods categories released by ChinaIOL, the combined production schedule for air conditioners, refrigerators, and washing machines in April 2026 totaled 37.64 million units, down 3.6 YoY compared to actual production in the same period last year. By product, the production schedule for household air conditioners in April was 21.32 million units, down 4.9 YoY compared to actual production in the same period last year; refrigerator production schedule was 8.21 million units, down slightly 0.1 YoY compared to actual production in the same period last year; washing machine production schedule was 8.11 million units, down 3.7 YoY compared to actual production in the same period last year.

According to SMM data, die-cast zinc alloy operating rates stood at 51.8% as of last week. Looking at March expectations, the industry's operating performance is projected to decline by approximately 7 percentage points year-on-year. The main reasons for the decline in operating rates are as follows

Concluding our series, we shift focus to 2026's emerging NdFeB growth drivers: robotics, low-altitude economy, and electric two-wheelers. While viewed as the "second growth curve," we analyze their actual demand support amidst current macro and industry cycles to determine if they can offset traditional sector slowdowns.

According to the latest refrigerator production schedule report released by ChinaIOL, refrigerator output for domestic sales in April 2026 was 3.41 million units, down 8.2% from the actual domestic sales performance in April 2025.

According to the latest production schedule report on the three major white goods released by ChinaIOL, the total scheduled production volume for air conditioners, refrigerators, and washing machines in April 2026 was 37.64 million units, down 3.6% compared to the same period last year.