2026 is the opening year of the 15th Five-Year Plan period. Against a backdrop of intensifying global macro volatility and the deepening push for high-quality development in China, the zinc industry is undergoing profound changes: structural tensions arise from ore supply tightness alongside the release of smelting capacity, diverging domestic and overseas inventories reflect the complex supply-demand rebalancing, and technological innovation is becoming the key driver for resolving contradictions and reshaping the landscape. Key areas of the 15th Five-Year Plan, such as new energy and new-type infrastructure, are injecting fresh momentum into traditional zinc consumption, while green, low-carbon, and circular economy models are rapidly reshaping industry logic driven by technological innovation. With the joint support of upstream and downstream enterprises, industry associations, and relevant parties in the zinc industry, SMM's 2026 SMM Zinc Conference and the 8th Hot-Dip Galvanizing Industry Development and Technological Innovation Forum, the 14th Zinc Salt, Zinc Oxide, and Secondary Zinc Resources Development Forum, and the Die-Casting Zinc Alloy Development Forum are about to be held on August 6–8 in Qingdao, Shandong. Under the theme "Gathering Zinc Momentum · Building the Zinc Industry · Embarking on a New Journey," the conference is driven by the dual wheels of macro perspective and fundamental analysis, closely following the high-quality development mainline of the 15th Five-Year Plan, and focusing on four dimensions: macro policies, supply-demand patterns, global trade, and technological innovation. By breaking through with technology to drive cost reduction and efficiency gains, and by addressing market fluctuations through collaborative innovation, we will jointly chart a brand-new blueprint for the high-quality and sustainable development of the zinc industry. Jurong Ruixin Environmental Protection Materials Co., Ltd. will make a grand appearance at this grand event, discussing industry development trends with industry peers and jointly propelling the zinc industry to new heights. Click the to register immediately for the conference, and join us to witness and participate in this extraordinary and far-reaching industry event, creating a brilliant new chapter together! Jurong Ruixin – The Pioneer of New Hot-Dip Galvanizing Processes Established in 2015, Jurong Ruixin Environmental Protection Materials Co., Ltd. has been deeply cultivating the industry for a decade. Empowering the industry with technology and fulfilling its responsibilities through environmental protection, it is a high-tech enterprise integrating R&D, sales, and service. Located adjacent to Nanjing and covering the Suzhou-Wuxi-Changzhou area, the company, with its strong technological R&D capabilities, has become a pioneer of new hot-dip galvanizing processes and a leader in new technologies, writing a new chapter of green development in the industry with craftsmanship and innovation. Its products are widely used in multiple core fields and have garnered broad market recognition. In product R&D, Ruixin Environmental Protection always takes environmental protection as the core, avoiding the use of high-risk chemicals and optimizing formulation processes to solve industry challenges such as high zinc consumption, zinc fume emissions, zinc ash residue, and coating skips. This not only aligns with the requirements of the "dual carbon" strategy but also effectively controls costs for enterprises. In response to the process differences of different clients, the company provides customized products and full-cycle services, from raw material selection to on-site guidance, comprehensively helping clients improve production efficiency and product quality. Willing to join hands with colleagues from all directions, empowering the industry with technology, practicing responsibility with environmental protection, jointly promoting the high-quality development of the hot-dip galvanizing industry, and creating new brilliance in green manufacturing! For different client process requirements, we launch the following products: Ammonium-free plating aid, zinc smoke inhibitor, high-aluminum anti-leakage plating agent, zinc ash reduction and anti-explosion agent, pickling accelerator, pickling inhibitor Focused on solving hot-dip galvanizing leakage plating, reducing zinc consumption, and lowering zinc ash Our company adheres to the principles of customer first, environmental protection first, quality first, and service first! We are willing to join hands with you to create brilliance together! ◆ Contact Information ◆ 24H Service Hotline: Mr. Ding 17368753678 Company Address: Unit 1, Shimao Huijin Building, No. 818 Chongming West Road, Jurong City Long press to scan the code and register now! 2026 SMM Zinc Industry Conference

2026 marks the first year of the "15th Five-Year Plan." Against the backdrop of intensifying global macro fluctuations and China's deepening push for high-quality development, the zinc industry is undergoing profound transformation: structural tensions emerge from ore supply tightness and the release of smelting capacity, differentiated domestic and overseas inventories reflect the complex supply-demand rebalancing, and technological innovation is becoming the key momentum to resolve contradictions and reshape the pattern. New energy, new-type infrastructure, and other key areas of the "15th Five-Year Plan" are injecting new momentum into traditional zinc consumption, while green, low-carbon, and circular economy principles are accelerating industrial logic reconstruction driven by technological innovation. With the support of upstream and downstream zinc enterprises, industry associations, and related parties, SMM is organizing the 2026 SMM Zinc Conference, concurrently held with the 8th Hot-dip Galvanizing Industry Development and Technology Innovation Forum, the 14th Zinc Salt, Zinc Oxide, and Secondary Zinc Resources Development Forum, and the Foundry Zinc Alloy Development Forum, which will be held from August 6 to 8 in Qingdao, Shandong. Under the theme of "Gathering Zinc Momentum · Building the Zinc Industry · Embarking on a New Journey," the conference is driven by both macro perspectives and fundamental analysis. Adhering closely to the main theme of "15th Five-Year Plan" high-quality development, it will focus on four dimensions—macro policies, supply-demand pattern, global trade, and technological innovation. Through technological breakthroughs to drive cost reduction and efficiency improvement, and collaborative innovation to address market fluctuations, it aims to jointly draw a new blueprint for the high-quality, sustainable development of the zinc industry. Qingdao Haiyan Chemical Co., Ltd. will attend this grand event, discuss industry development trends with industry peers, and work together to advance the zinc industry to new heights. Click to register now and join us to witness and participate in this momentous and far-reaching industry event, co-creating a glorious new chapter! Qingdao Haiyan Chemical Co., Ltd. is located in the Wenquan Subdistrict Office, the core area of the Qingdao Blue Silicon Valley, Shandong Province, covering an area of 33,600 m² with a building area of 25,000 m². It is mainly engaged in the production of zinc oxide, including indirect-process zinc oxide and new-process zinc oxide. The "Haiguan Brand" zinc oxide is popular in many application fields such as rubber, tires, zinc salts, electronics, and coatings. Its current annual capacity is 80,000 mt. The company is actively advancing the construction of a new plant in Southeast Asia, with a planned total capacity of 100,000 mt. Since its establishment in 1986, Qingdao Haiyan Chemical has upheld the principle of quality-based operation, taking the lead in the industry by introducing advanced detection equipment such as atomic absorption spectrometers, laser particle size analyzers, and specific surface area detectors to ensure the quality of its outgoing zinc oxide, earning unanimous praise from clients. Its products are currently sold to major tire enterprises in and outside China, including Bridgestone, Continental, Yokohama, Sailun Jinyu Group, Giti Tire, Cooper Tire, Zhongce Group, Xiamen Zhengxin, Prinx Chengshan, Triangle Tire Co., Ltd., Shandong Linglong, Anhui Double Coin, and Doublestar Group. The company took the lead in the industry to pass the IATF 16949 quality system certification, ISO 9001 certification, ISO 14000 certification, and ISO 45001 certification. It fosters a corporate culture of "Love the factory, dedication, integrity, and friendliness," and "Establish a craftsman spirit to achieve excellent quality." "The Haiyan people regard quality as life and customers as God," always offering the best products, the best service, and the best reputation to users; serving users is our constant theme. ◆ Contact ◆ Cheng Zhiqiang 15154239999 Sun Xitang 18669862770 Long press and scan to register now 2026 SMM Zinc Conference

In June, secondary zinc oxide prices continued to rise. How will they perform going forward?

Zinc calcine processing fees edged down in May—how will they trend in June?

According to SMM, a secondary zinc smelter in east China plans to increase production in July, with production expected to double. SMM will continue to track the specific production release situation.

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 on the ore side 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 pattern. Key “15th Five-Year Plan” sectors such as new energy and new-type infrastructure are injecting new momentum into traditional zinc consumption, while green, low-carbon development and the circular economy are also accelerating the restructuring of industrial logic under the impetus of technological innovation. With the joint support of upstream and downstream enterprises in the zinc industry, industry associations, and relevant parties, 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 thread of high-quality development under the “15th Five-Year Plan,” and will focus on four key dimensions—macro policy, the supply-demand pattern, global trade, and technological innovation. It will drive cost reduction and efficiency enhancement through technological breakthroughs, respond to market fluctuations through collaborative innovation, and join hands to chart a new blueprint for high-quality and sustainable development of the zinc industry.‌ Henan Feima Hoisting Machinery Group Co., Ltd. will make a grand appearance at this event, discussing industry development trends with industry peers and working together to propel the zinc industry to new heights. Click to register for attendance immediately, and jointly witness and participate in this extraordinary and far-reaching industry event to create a brilliant new chapter together! Henan Feima Hoisting Machinery Group Co., Ltd. is a professional manufacturer primarily producing bridge and gantry cranes, wire-rope electric hoists, construction machinery, and lifting accessories. It is a member unit of the Bridge and Gantry Crane Branch of the China Heavy Machinery Industry Association and a council member unit of the Hoist Sub-Association. It was among the first in the industry to pass ISO quality system certification, and its products are underwritten by China United Property Insurance Company and Pacific Insurance Company. Founded in 1992, Feima Group covers an area of 200,000 m² and currently has more than 810 employees. It is equipped with 226 sets of various production and inspection equipment, boasts strong technical capabilities, and has accumulated extensive technical and management experience. It has comprehensive production and manufacturing capabilities, and its technical strength, equipment, processes, and detection methods are all at a leading level in China. Feima Group is a high-tech enterprise, a specialized and sophisticated new-type enterprise, a China Quality Integrity Enterprise, a Henan Province technology enterprise, and a Level 1 enterprise for work safety standardization, and has received multiple honorary titles from ministries and at the provincial and municipal levels, including “Quality Management Standards-Compliant Enterprise,” “Advanced Unit in Metrology Work,” “Certificate of Qualification for Enterprise Quality Inspection Institution,” “Contract-Honoring and Credit-Keeping Enterprise,” “Advanced Unit in Enterprise Tax Payment,” and “Export Product Quality License Certificate,” among others. The leading products of Pegasus Group are widely used in industries such as machinery, hot-dip galvanizing, metallurgy, mines, electric power, railways, aerospace, ports, petroleum, and chemical. It is a qualified lifting machinery supplier and partner for central state-owned enterprises such as China Railway, China Water, CNNC, Guodian, and private enterprises including HBIS. The products are exported to more than 130 countries and regions, including the UAE, France, the US, and Russia. The company adheres to excellent quality, achieves continuous improvement, meets social needs, and ensures customer satisfaction. Pegasus will target the international cutting-edge technology of cranes. Innovation unlimited, reputation everlasting; let friends experience "Pegasus Lifting, Bringing You Safety and Ease," and let friends feel "Looking Across the World, Pegasus Gallops On." ◆ Contact Information ◆ Han Junqiang 13839086999 Long press and scan to register now 2026 SMM Zinc Conference

Raw material side, the supply of core raw materials such as steel ash and electric furnace ash all declined to varying degrees in May, directly affecting the overall raw material supply level of the industry. Specifically, on the blast furnace front, some blast furnaces entered the maintenance phase in May, with maintenance shutdowns basically concentrated throughout the entire month of May.

The year 2026 marks the first year of the 15th Five-Year Plan. Against the backdrop of intensifying global macro volatility and the deepening of China’s high-quality development, the zinc industry is undergoing profound changes: structural tension is formed by ore supply tightness and smelting capacity release, while the divergence between domestic and overseas inventories reflects the complex dynamics of supply-demand rebalancing. Technological innovation is becoming the key driving force for resolving contradictions and reshaping the landscape. Key areas under the 15th Five-Year Plan, such as new energy and new-type infrastructure, are injecting new momentum into traditional zinc consumption. Meanwhile, driven by technological innovation, green, low-carbon and circular economy principles are accelerating the reshaping of industrial logic. With the joint support of upstream and downstream zinc enterprises, industry associations, and relevant parties, the 2026 SMM Zinc Conference, the 8th Hot-Dip Galvanizing Industry Development and Technological Innovation Forum, the 14th Zinc Salts, Zinc Oxide and Secondary Zinc Resources Development Forum, and the Cast Zinc Alloy Development Forum, will be held on August 6–8 in Qingdao, Shandong. Centered on the theme “Gathering Zinc Momentum · Building the Zinc Industry · Embarking on a New Journey,” the event is driven by both macro perspectives and fundamental analysis. It closely follows the main theme of high-quality development under the 15th Five-Year Plan, focusing on four dimensions: macro policies, supply-demand patterns, global trade, and technological innovation. Through technological breakthroughs, it aims to drive cost reduction and efficiency improvement, and through collaborative innovation, it addresses market fluctuations, jointly drawing a new blueprint for the high-quality and sustainable development of the zinc industry. Gansu Changba Nonferrous Metals Co., Ltd. will attend this grand event with distinction, exploring industry development trends together with industry peers and working hand in hand to elevate the zinc industry to new heights. Click the to register now and participate in this extraordinary and far-reaching industry event, and jointly create a brilliant new chapter! ◆ Company Profile ◆ Gansu Changba Nonferrous Metals Co., Ltd., a subsidiary of Baiyin Nonferrous Group Co., Ltd., operates the Chengzhou Zinc Smelter and the Changba Lead-Zinc Mine. It is a large state-owned nonferrous metals enterprise integrating lead-zinc mining, beneficiation, smelting, and scientific research. The Chengzhou Zinc Smelter has an existing annual electrolytic zinc production capacity of 100 kt and is a modern smelter that integrates zinc metal smelting, comprehensive resource utilization, and R&D of new nonferrous metal smelting processes. The company adheres to the development direction of “lean synergy, digital integration, and green leadership,” closely focusing on the goal of creating an ultimate quality benchmark and continuously achieving breakthroughs in the improvement of zinc smelting quality. In 2026, the first batch of high-purity zinc ingots with a purity of 99.998% was successfully produced, injecting solid momentum into further enhancing the company’s core competitiveness, expanding the high-end zinc material market, and promoting high-quality development of the enterprise. Chengzhou Zinc Smelter constantly strives for excellence. With the successful production of 99.998% high-purity zinc ingot as a major breakthrough, it continues to increase R&D investment, actively introduces advanced and applicable production technologies and equipment, focuses on building a high-quality professional technical talent team, continuously optimizes the production process for 99.997% high-purity zinc ingot, and steadily carries out technical research on even higher-purity zinc products. ◆ Glorious Achievements: Quality Certified by Authorities ◆ The outstanding quality of the 99.998% high-purity zinc ingot has been widely recognized by authoritative institutions both inside and outside the industry, with numerous high-profile awards attesting to its quality excellence: · Technological Innovation Awards: With breakthroughs in core technologies such as "Research and Application of Low-impurity Electrolytic Zinc Standard Establishment," it won the "Second Prize for Science and Technology in the Nonferrous Metals Industry," the "First Prize for Science and Technology Progress of Gansu Province," and the "Special Prize for Science and Technology of CITIC Guoan Group Co., Ltd.," demonstrating technological strength recognized at national, provincial, and city-county levels; "R&D and Application of High-quality Zinc Ingot Preparation Technology" won a bronze award at the 11th International Invention Exhibition & the "Belt and Road" and BRICS Skills Development and Technology Innovation Competition; "Full-process Lean Management Creates Excellent Zinc Ingot Quality" won the Second Prize for Modern Management Innovation Achievement in the Nonferrous Metals Industry in 2025; it built the first 5G+ digital workshop in Nanshi, deployed industrial robots and unmanned AGV systems, achieved full-process automation of ingot production, and increased production efficiency by 30%. · Product Quality Awards: The main product zinc ingot (including the 99.997% specification) and the by-product sulphuric acid jointly won the highest honor in physical quality recognition for nonferrous metal products—the "Golden Cup Award," which is the industry's authoritative endorsement of their quality stability and superiority. In 2025, it was recognized as a "High-Quality Brand" by the China Nonferrous Metals Industry Association (CNIA). · Market Access Certification: The main product zinc ingot was successfully registered on the Shanghai Stock Exchange, gaining standardized market circulation qualifications; its brand value reached 2.482 billion yuan, ranking 31st among "Product Brands" nationwide, laying a solid foundation for the market promotion of 99.997% high-purity zinc ingot. ◆ Diverse Applications: Empowering High-End Industry Development ◆ With extremely low impurity content and excellent chemical stability, 99.998% high-purity zinc ingot demonstrates irreplaceable application value in multiple high-end fields: · High-End Electronics: As a core raw material for electronic component coatings, its low impurity characteristics effectively enhance the conductivity and service life of electronic devices, making it widely used in the production of precision electronic components such as integrated circuits and smartphone chips. · Aerospace Sector: Used in anti-corrosion coatings for aerospace components and the manufacturing of lightweight alloy materials, its stable physical and chemical properties ensure adaptability to extreme environments, safeguarding the reliability of aerospace equipment. · Pharmaceutical and Chemical Sector: Serves as a raw material for pharmaceutical intermediates and high-end catalysts. Its high purity ensures product safety and efficacy, meeting the stringent standards of the pharmaceutical and chemical industry. · New Energy Sector: In the production of new energy products such as zinc-based batteries and energy storage devices, high-purity zinc ingots can enhance battery energy density and cycle life, facilitating the upgrade of the new energy industry. ◆ Outstanding Achievements: Market Recognition Underscores Strength ◆ With a zinc ingot capacity of 100kt, the 99.998% high-purity zinc ingot, featuring core advantages of low lead, low iron, and low cadmium, was highly recognized by downstream clients immediately upon market launch, delivering an impressive market performance: · Industry-Leading Zinc Ingot Quality: Zinc ingot purity reaches 99.998%, with lead content at 0.0009%, iron content stable at 0.0003%, and cadmium, tin, and aluminum consistently maintained at 0.0002%, representing a leading position in the zinc smelting industry. · Extensive Market Coverage: Products were rapidly sold to core markets such as Shanghai and Xuzhou, covering multiple sectors like high-end electronics and precision manufacturing, breaking the market supply bottleneck for high-end high-purity zinc ingots. · Leading Client Satisfaction: Thanks to stable purity, extremely low impurity content, and reliable supply capability, a stable client base and strong market reputation have been established. The client satisfaction rate for 2025 was 100%. ◆ Future Outlook: Sustaining Leadership in High-Quality Development ◆ Chengzhou Zinc Smelter consistently pursues excellence and continuous improvement. With the successful production of 99.998% high-purity zinc ingots as a major breakthrough, it will continue to increase R&D investment, actively introduce advanced and applicable production technologies and equipment, focus on building a high-quality professional technical team, continuously optimize the production process for 99.997% high-purity zinc ingots, and steadily undertake technical research into even higher-purity zinc products. Simultaneously, it will deepen industry-academia-research collaborative innovation, expand application scenarios for high-purity zinc in fields such as high-end manufacturing and new materials, and drive integrated improvement and coordinated development across the upstream and downstream industry chain. The enterprise is committed to becoming a lean benchmark in the industry, continuously strengthening whole-process quality management, deeply cultivating green and low-carbon production, and accelerating intelligent transformation and upgrading. Through solid efforts and tangible results, it will promote corporate quality enhancement, efficiency improvement, and transformation, contributing real "ChengYe strength" to the high-quality development of the zinc smelting industry. ◆ Contact ◆ Long press & scan to register now 2026 SMM Zinc Conference

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

In December, zinc calcine TCs rose to varying degrees across different regions. How will they perform in January?