SMM

SMM data showed that China's refined zinc output in January 2024 was 567,000 mt, a month-on-month decrease of 23,900 mt or 4.05%, and a year-on-year increase of 10.9%, which is lower than our previous expectations. In January, domestic zinc alloy output was 109,600 mt, an increase of 6,600 mt from the previous month.