[Zinc Oxide Operating Rates Remain Stable, End-Use Demand Shows Divergence] In terms of orders, overall demand for rubber-grade zinc oxide remained stable, but some enterprises were relatively cautious about expectations for subsequent demand from tyre factories; orders for major ceramic-grade zinc oxide producers were relatively stable, but affected by the overall weakness in the real estate market, overall demand in the sector was average......

Secondary Zinc Oxide Production Fell in February, While Secondary Zinc Oxide Payables Remained Relatively Firm. What Trend Will Secondary Zinc Oxide Show in March?

[Zinc oxide producers have holiday arrangements, with operating rates slightly weakening this week] This week, the operating rate of zinc oxide producers was recorded at 60.08%, down 1.96% WoW. On the raw material side, the center of zinc prices slightly increased this week, and zinc oxide producers made just-in-time procurement. Meanwhile, affected by the recent shortage of some raw materials, it was relatively difficult for zinc oxide producers to procure raw materials, and raw material inventories slightly decreased WoW. On the finished product inventories side, due to the 1-3 day holiday arrangements for a small number of zinc oxide producers during the Dragon Boat Festival, the finished product inventories of enterprises increased WoW...

[Zinc Oxide Producers' Operating Rates Rise, but Terminal Orders May Weaken Slightly] This week, the operating rate of zinc oxide producers reached 59.77%, up 1.16% WoW. On the raw material side, zinc prices currently maintain a fluctuating trend, and zinc oxide producers primarily make just-in-time procurement of raw materials, leading to a decrease in raw material inventories. On the finished product side, enterprises with Labour Day holiday arrangements continue to deplete their finished product inventories, driving a reduction in finished product inventories...

On the morning of March 24, stimulated by the news of abnormal thallium concentration in surface water at the Dahan滩 automatic monitoring station on the Leishui River between Chenzhou and Hengyang, SHFE lead and SHFE zinc main contracts climbed together. During the session, SHFE zinc reached a maximum increase of 1.72%, and SHFE lead surged to 1.77%. By the close of the day, SHFE lead reported a 1.14% increase to 17,670 yuan/mt, and SHFE zinc reported a 1.64% increase to 24,200 yuan/mt. Following the incident, SMM quickly conducted a survey on the production status of local zinc mines. According to SMM, the current production of local zinc mines and smelters is normal, and they have not been affected by related environmental protection issues. Regarding lead, according to SMM, most local primary lead smelters are maintaining normal production, with only a few small plants potentially experiencing some impact, which is currently relatively small. In terms of secondary lead, a few secondary lead smelters in the area affected by the wastewater, considering their own circumstances, have temporarily stopped accepting scrap batteries. SMM will continue to monitor subsequent environmental developments.

[Operating Rates of Zinc Oxide Producers Rose Due to the Resumption of Large Factories During the Week] This week, the operating rate of zinc oxide producers reached 60.4%, up 2.69% WoW. Raw material side, zinc prices rose this week, and zinc oxide producers mainly made just-in-time procurement, with raw material inventories basically flat compared to last week. Finished product inventories side, recent improvement in downstream orders slightly reduced finished product inventories this week...