End-use demand marginally improves, operating rates rise [SMM Galvanizing Weekly Review]

Published: Oct 23, 2026 14:57 (GMT+8)

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[End-use demand marginally improves, operating rates rise]: This week, operating rates in the galvanizing industry rebounded to 56.13%, up 2.63 percentage points WoW. On the raw material inventory side, zinc prices consolidated this week, with galvanising enterprises mostly taking a wait-and-see stance, focusing on restocking as needed or digesting inventories, leading to a slight decline in raw material inventories.

SMM, October 23: This week, operating rates of galvanising producers rebounded to 56.13%, up 2.63 percentage points WoW. Raw material inventory side, zinc prices consolidated this week, with galvanising enterprises mostly staying on the sidelines, focusing on restocking as needed or digesting inventories, and raw material inventories edged down. Demand side, as end-user projects gradually entered the delivery phase, demand for project-based orders rebounded, driving improvement in orders at galvanising enterprises. Meanwhile, steel tower orders performed well, supporting production at related enterprises, and production schedule enthusiasm improved, pushing industry operating rates to continue rebounding, with finished product inventories also accumulating. Operating rates of galvanising producers are expected to consolidate around 55.96% next week.

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