[Weak Demand, Galvanizing Operating Rates Edge Down]: This week, the operating rate of the galvanizing industry was 53.39%, down 1.47 percentage points WoW. Raw material side, zinc prices continued to consolidate at highs this week, and enterprise procurement remained mainly rigid demand-driven. The zinc ingot inventory at galvanising enterprises continued to decline.

In July, the Tianjin zinc ingot market continued to show a pattern of ample supply and weak demand. Regional spot circulating resources were relatively sufficient, while downstream purchasing enthusiasm was insufficient, leading to mediocre market trading performance. Spot premiums remained in discount, and the supply-demand imbalance was still prominent.

2026 marks the opening year of the “15th Five-Year Plan”. Against the backdrop of intensifying global macro volatility and the deepening advancement of high-quality development in China, the zinc industry is undergoing profound transformation: tightness at the ore end and the release of smelting capacity are creating structural tension; divergence between domestic and overseas inventory reflects the complex dynamics of supply and demand rebalancing; and technological innovation is becoming the key momentum to resolve contradictions and reshape the landscape. Key “15th Five-Year Plan” sectors such as new energy and new-type infrastructure are injecting fresh momentum into traditional zinc consumption, while green, low-carbon development and the circular economy are also accelerating the reshaping of industrial logic under the drive of technological innovation. With the joint support of upstream and downstream enterprises in the zinc industry, industry associations, and other relevant parties, SMM the 2026 SMM Zinc Industry Conference and the 8th Hot-Dip Galvanizing Industry Development and Technological Innovation Forum, and the 14th Zinc Salts, Zinc Oxide and Secondary Zinc Resources Development Forum, and the Casting Zinc Alloy Development Forum are about to be held in Qingdao, Shandong, from August 6 to 8. Under the theme “Harness Zinc Momentum · Build the Zinc Industry · Embark on a New Journey”, the conference will be driven by a dual engine of macro perspective and fundamentals analysis, closely aligned with the main line of high-quality development under the “15th Five-Year Plan”. It will focus on four key dimensions—macro policy, the supply-demand pattern, global trade, and technological innovation—leveraging technological breakthroughs to drive cost reduction and efficiency improvement, and using collaborative innovation to address market fluctuations, jointly charting a new blueprint for high-quality and sustainable development of the zinc industry.‌ Jiangsu Myande Energy-Saving Evaporation Equipment Co., Ltd. will make a distinguished appearance at this grand event, joining industry peers to discuss industry development trends and work together to propel the zinc industry to new heights. Click to register for the conference now, and jointly witness and participate in this extraordinary and far-reaching industry event, creating a brilliant new chapter together! System Solution for Resource Utilization of High-Salinity Wastewater in the Metallurgical Industry From “High-Salinity Burden” to “Resource Gains”—Empowering Green and Intelligent Manufacturing in Zinc Smelting I. Wastewater Treatment Challenges in the Secondary Zinc Industry A large volume of high-salinity wastewater is generated during zinc recovery from zinc-containing scrap, requiring compliant environmental protection treatment with stringent standards. This results in both high investment in environmental protection equipment and high subsequent operating costs, compressing enterprise profit margins. Moreover, secondary waste is generated after environmental protection disposal, adding disposal costs and making it difficult for enterprises to continue bearing the burden. II. Root Causes of Wastewater Treatment In the zinc recovery process for zinc-containing scrap, low-grade zinc oxide must be rinsed to remove chlorides and other impurities in the raw material to avoid affecting the purity of zinc products. In addition to sodium chloride and potassium chloride, the rinsing wastewater also contains sulphate radicals, fluoride, COD, and many other components. Its composition is complex and fluctuates significantly, making wastewater treatment highly challenging. III. Three Core Processes, One-Stop Breakthrough 1. Deep pre-treatment—precisely removes fluorides, heavy metals, and organic matter, ensuring long-term stable operation of the system 2. Evaporation Concentration + Fractional Crystallization—Recovering High-Purity Potassium Chloride and Sodium Chloride, Achieving Salt Resource Recovery 3. Evaporative Condensate Reuse in Production Processes—Self-Circulation of Process Water, Achieving True "Zero Discharge" 4. Dual Benefits Empowering Enterprises Turning high-salinity wastewater into a valuable resource, while achieving environmentally compliant disposal, recovering salt resources, with revenue covering operating costs, shortening the payback period, and enhancing overall economic benefits. Contact Person Zhu Manager 15161877256 Wu Manager 15952706514 Tel: 0514-87843988 Email: zzj@myande.com Website: evap.myande.com Address: No. 199 Ji’an South Road, Yangzhou, Jiangsu Province Product Inquiry QR Code Evaporation Official Website QR Code Official Website QR Code Official WeChat QR Code Long-Press to Scan to Register Now 2026 SMM Zinc Industry Conference

[Zinc Ingot Export Window Opening? A Nearly 20-Year Rare Opportunity Reemerges!] As of July 28, LME zinc inventory (including non-registered warrants) had pulled back to 101,800 mt, down about 20,000 mt from mid-June. Amid continued destocking outside China, the LME zinc market structure shifted from contango to backwardation, and the backwardation structure kept widening. On July 28, the LME zinc Cash-3M spread strengthened to $61.09/mt. In stark contrast, zinc consumption in China remained in the traditional off-season, with SMM-reported social inventory of zinc ingots across seven domestic markets holding steady at a high level of around 260,000 mt. The supply-demand patterns in China and overseas clearly diverged, and the SHFE/LME zinc price ratio weakened all the way. Against this backdrop, the long-dormant export window for Chinese zinc ingots reappeared, and discussions in the market about reverse arbitrage involving "buying SHFE zinc, selling LME zinc" noticeably heated up...

Swedish green steel start-up Stegra has secured a long-term tolling partnership with the Dutch branch of Wuppermann to galvanize its low-carbon steel products. Wuppermann Staal Nederland will process the sustainable steel utilizing its local galvanizing plant, which currently holds the lowest carbon footprint for such facilities in Europe. This strategic European partnership aims to establish new supply chain standards and accelerate the market adoption of low-carbon flat steel products across the region.

Dear Users, Greetings! Thank you for your continued attention and support for SMM. The SMM Steel Industry Research Department has always been committed to providing the market with accurate, reliable, and representative data references. During the price inquiry process for cold-rolled hard coil, pickled coil, and galvanised coil in the Chongqing and Wuhan markets, SMM found that due to the relatively small market volume and limited number of traders for the relevant regions and brands, the collection samples for these prices were limited, making it difficult to form effective and continuous statistics. After a comprehensive assessment, and to ensure that the prices we provide hold practical reference value for the market, we have decided that effective August 3, 2026, the following prices will be discontinued: Jingang Group-Chongqing-cold-rolled hard coil price, Jingang Group-Wuhan-galvanised coil price, Jingang Group-Chongqing-pickled coil price, and Jingang Group-Chongqing-pickled automotive coil price. We will continue to focus on mainstream markets in China, providing you with more valuable market information for the steel sheets & plates industry. Thank you again for your understanding and support! SMM Steel Industry Research Department Jul 28, 2026

Chinese steel investment is gradually shifting from direct exports to localized production in Southeast Asia. New and planned projects in Malaysia, Indonesia, Vietnam, Thailand, and the Philippines are expected to strengthen regional supply, but if capacity growth continues to outpace demand, it could further intensify market competition.

[Galvanizing Operating Rate Edges Down]: This week, the operating rate of the galvanizing industry was 54.86%, down 0.21 percentage points WoW. From the raw material side, zinc prices continued to consolidate at highs this week, combined with weak consumption, enterprises still purchased mostly on a need-to basis, and galvanising enterprises' zinc ingot inventories continued to decline.

2026 marks the opening year of the 15th Five-Year Plan. Against a backdrop of intensifying global macro volatility and China's deepening push for high-quality development, the zinc industry is undergoing profound transformation: ore-side tightness and the release of smelting capacity are creating structural tensions, while the divergence between domestic and overseas inventories reflects the complex dynamics of supply-demand rebalancing. Technological innovation is becoming a key driver to resolve contradictions and reshape the landscape. New energy, new-type infrastructure, and other priority areas under the 15th Five-Year Plan are injecting new momentum into traditional zinc consumption, while green, low-carbon, and circular economy models are accelerating the restructuring of industrial logic, propelled by technological innovation. With the joint support of upstream and downstream enterprises, industry associations, and relevant parties, SMM 2026 SMM Zinc Industry Conference & the 8th Hot-Dip Galvanizing Industry Development and Technology Innovation Forum & the 14th Zinc Salts, Zinc Oxide and Zinc Secondary Resources Development Forum & Cast Zinc Alloy Development Forum will be held on August 6–8 in Qingdao, Shandong. Under the theme “Harnessing Zinc Momentum · Building Zinc Industry · Embarking on a New Journey,” the conference will be driven by macro perspectives and fundamental analysis as dual engines, closely following the main theme of high-quality development under the 15th Five-Year Plan. It will focus on four dimensions—macro policies, supply-demand patterns, global trade, and technological innovation—leveraging technological breakthroughs to drive cost reduction and efficiency improvement, addressing market fluctuations through collaborative innovation, and jointly drawing a new blueprint for the high-quality and sustainable development of the zinc industry.‌ Jiangsu Runtong Zinc Industry Co., Ltd. will attend this grand event with distinction, discussing industry development trends with peers and jointly pushing the zinc industry to new heights. Click the to register now, witness and participate in this extraordinary and far-reaching industry event, and together create a brilliant new chapter! Jiangsu Runtong Zinc Industry Co., Ltd. is a specialized manufacturer of zinc oxide. The company boasts strong technical strength, complete production equipment, advanced production processes, and perfect testing methods, ensuring superior product quality. Its main products include calcined zinc oxide, direct-process zinc oxide, activated zinc oxide, and indirect-process zinc oxide. The raw materials used are zinc slag, zinc dross, low-grade zinc oxide, and zinc ash (furnace ash, malleable iron ash, small parts ash, etc.). The company’s annual production includes 20,000 mt of indirect-process zinc oxide, 15,000 mt of direct-process zinc oxide, and 30,000 mt of calcined zinc oxide, all produced using advanced domestic processes. All quality indicators meet or exceed national standards. The products feature pure white color and good dispersibility, making them suitable for the rubber, magnetic materials, and ceramics industries, and are widely praised by customers. The company strictly abides by integrity, adhering to the corporate philosophy of “Integrity in Conduct, Dedication in Action, and Heart in Zinc Making,” and the business approach of “Sincere Cooperation, Mutual Benefit and Win-Win,” to establish extensive friendships with industry peers worldwide. Contact Person Mr. Xu, 136-4155-2068 No. 209, Zhongxing Road, Daduo Town, Xinghua City, Jiangsu Province Long press to scan the QR code and register now 2026 SMM Zinc Industry Conference

[ Review of H1 2026 Refined Zinc Imports and Exports and Future Outlook] According to customs data, in H1 2026 the global zinc market exhibited a structural divergence of high domestic inventories and low overseas inventories. China’s refined zinc imports showed a rare "one-way decline" pattern, with cumulative imports from January to June reaching 59,600 mt, a cumulative YoY decline of 68.96%, bringing the absolute volume to a historical low......