In Q2 2026, the traditional peak season for the galvanizing industry fell short of expectations, weighed by sluggish real estate recovery and delayed implementation of local government bonds. Overall operating rates weakened YoY, with only infrastructure and export-related categories showing structural opportunities.

[Galvanized Sheet Monthly Export Data] According to the latest customs data, in May 2026, galvanized sheet imports were 52,400 mt, down 15.16% MoM and down 8.33% YoY. Cumulative galvanized sheet imports from January to May were 274,000 mt, down 13.77% YoY.

[Galvanized Sheet Monthly Export Data] According to the latest customs data, in May 2026, galvanized sheet exports were 1.2075 million mt, up 2.67% MoM and up 8.36% YoY. Cumulative galvanized sheet exports from January to May were 5.6348 million mt, down 2.71% YoY.

[Geopolitical Risks Subside: How Will the Zinc Market React?] The Middle East conflict has recently shown clear signs of de-escalation. The market is now fully pricing in a U.S.-Iran agreement and the resumption of shipping through the Strait of Hormuz. What impact will this have on the zinc market?

Shougang Group has released its pricing policy for July 2026 sheets & plates, with prices for most products remaining flat compared to June 2026, while only grain-oriented silicon steel was raised. Shougang Group has released its pricing policy for July 2026 sheets & plates, using the "June 2026 Product Pricing Policy" as a baseline. The specific adjustments are as follows: 1. Base prices for HRC remain unchanged. 2. Base prices for pickled steel coils remain unchanged. 3. Base prices for cold-rolled steel coils remain unchanged. 4. Base prices for hot-dip galvanized sheets remain unchanged. 5. Base prices for galvalume and high-aluminum zinc-aluminum-magnesium coated coils remain unchanged. 6. Base prices for color-coated sheets remain unchanged. 7. Base prices for Chalco zinc-aluminum-magnesium products remain unchanged. 8. Base prices for medium-thickness plates remain unchanged. 9. Silicon steel: Base prices for non-oriented silicon steel remain unchanged, while base prices for grain-oriented silicon steel were raised by 300 yuan/mt. The above adjustments are all ex-tax prices. This adjustment takes effect from the date of issuance, and the right of interpretation rests with the Marketing Center of Shougang Co., Ltd. Notice is hereby given. Marketing Center of Shougang Co., Ltd. June 16, 2026

[Galvanized Sheet Market] According to SMM, as the consumption off-season arrived, domestic trade orders for galvanized sheet in China weakened notably, dragging down production at domestic galvanized sheet mills, with overall market operating rates declining MoM.

According to the latest customs data, galvanized sheet exports in April 2026 totaled 1.1761 million mt, up 1.65% MoM and down 8.84% YoY. Cumulative galvanized sheet exports from January to April reached 4.4273 million mt, down 5.35% YoY cumulatively.

[Monthly Import Data for Galvanized Sheet] According to the latest customs data, imports of galvanized sheet in April 2026 were 61,800 mt, up 8.7% MoM, and up 3.92% YoY. Cumulative imports of galvanized sheet from January to April totaled 221,600 mt, down 14.96% YoY cumulatively.

[Monthly Export Data for Galvanized Sheet] According to the latest customs data, exports of galvanized sheet in April 2026 were 1.1761 million mt, up 1.65% MoM, and down 8.84% YoY. Cumulative exports of galvanized sheet from January to April totaled 4.4273 million mt, down 5.35% YoY cumulatively.

Shougang Group released its sheets & plates price policy for June 2026, based on the "May 2025 product price policy," with specific adjustments as follows: 1. HRC base price raised by 100 yuan/mt. 2. Pickled coil base price raised by 100 yuan/mt. 3. Cold-rolled coil base price raised by 100 yuan/mt. 4. Hot-dip galvanized sheet base price raised by 100 yuan/mt.