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

【SMM Analysis: Chinese New Year Holiday Production Resumption at Copper Cathode Rod Enterprises in 2026】Following the Chinese New Year holiday, the resumption of production at domestic copper cathode rod enterprises proceeded in an orderly manner, with the overall pace largely consistent with pre-holiday arrangements, with only a few individual enterprises showing deviations.......

[Operating Rates Down Over 20 Percentage Points MoM, Die-Casting Zinc Alloy Enters Chinese New Year Lull] This week, operating rates of die-casting zinc alloy producers fell sharply, mainly due to concentrated holiday arrangements at large plants during the week, leading to a sharp drop in operating rates. It is expected that next week, enterprises still in production will also arrange holidays successively by the end of this week, and operating rates of die-casting zinc alloy producers will decline further...

The spot copper market in Shandong has entered the Chinese New Year holiday period. Downstream enterprises in the province have completed pre-holiday stockpiling based on orders and holiday arrangements. Coupled with tightening logistics capacity, overall market trading is sluggish. As of Thursday, the average spot premiums/discounts were reported at a discount of 270 yuan/mt.

[SMM Express] Recently, SMM communicated with 20 domestic die-casting zinc alloy enterprises regarding their holiday arrangements before the festival. The combined annual capacity of these enterprises reached 829,000 mt, with an average holiday duration of 23.1 days, an increase of 1.1 days compared to the same period last year.

As the Chinese New Year holiday approached, downstream enterprises in Henan had completed pre-holiday stockpiling based on order situations and holiday arrangements. Coupled with tightening logistics capacity, trading in the spot market was sluggish.

Approaching the Chinese New Year holiday, downstream enterprises in Shandong have completed pre-holiday stockpiling based on order situations and holiday arrangements, coupled with tightening logistics capacity, resulting in sluggish spot market trades.

[Zinc Price "Year-End Hurdle": Pre-Holiday Hedging and Post-Holiday Pace Management Suggestions]With the 2026 Chinese New Year approaching and the last trading week before the holiday, SMM has summarized several key points to focus on in the zinc market before and after the holiday:

【SMM Analysis: 2026 Chinese New Year Holiday Arrangements for Copper Cathode Rod Enterprises】With the Chinese New Year holiday approaching, production and holiday schedules for most copper cathode rod enterprises during the holiday period have been finalized. SMM, through market communication and a comparison with the YoY situation in 2025, provides a detailed analysis as follows:

A survey of mainstream copper pipe & tube enterprises revealed a distinct "tiered" pattern in holiday arrangements, with business conditions varying significantly among companies.