2026 National Day Holiday Galvanizing Plants’ Holiday Arrangements | SMM Analysis

SMM September 24: As the National Day holiday approaches, market participants are paying close attention to downstream galvanizing plants’ pre-holiday stocking and holiday arrangements. SMM recently conducted a survey on the holiday schedules of galvanizing plants during the National Day holiday. The survey covered 38 galvanizing plants with a total capacity of approximately 25 million mt. According to the survey, some plants will suspend production for 1-20 days during the holiday, while others will maintain normal production. In 2026, the average holiday duration is 3.61 days, with the estimated zinc consumption impact reaching around 9,203 mt, up 0.46 days from the 3.15-day average in 2025, while the impact on zinc consumption increased by 1,971 mt.

According to the survey, during the 2025 National Day holiday, ferrous metal prices were relatively strong, with orders and shipments performing fairly well ahead of the holiday, and downstream pre-holiday stocking demand was robust. This year, however, with the National Day and Mid-Autumn Festival holidays approaching, ferrous metal prices have remained weak. Pre-holiday stocking demand for galvanized pipes has been below expectations. Meanwhile, galvanized pipe producers generally hold relatively high finished-goods inventories. With transportation restricted during the holiday, some plants have opted to suspend production to avoid excessive accumulation of finished-goods inventories. For structural products, end-user demand has been relatively lacklustre and below expectations. Elevated zinc prices have also weighed on consumption, while export orders have declined year-on-year, resulting in a notable decline in overall orders. Therefore, galvanizing plants’ overall orders have weakened compared with last year, leading to longer holiday periods and a greater impact on zinc consumption during the holiday.

In terms of raw material inventories, zinc prices fell sharply in mid-September, prompting downstream buyers to increase point-price purchases and subsequently take delivery. As a result, raw material inventory levels have risen noticeably compared with the beginning of September.

SMM will continue to monitor the resumption of production at galvanizing plants following the National Day holiday.