End-use demand performs modestly, zinc oxide operating rates trend lower [SMM Zinc Oxide Weekly Review]

Published: Oct 23, 2026 15:40 (GMT+8)

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[End-use demand performance is ordinary, zinc oxide operating rates decline] By sector, orders from tyre factories downstream of rubber-grade zinc oxide are weak...

This week, the operating rate of zinc oxide recorded 53.54%, down 1.44 percentage points WoW. Although zinc prices maintained a fluctuating trend this week, some raw material coefficients remained relatively high, and zinc oxide enterprises mostly purchased as needed, with raw material inventory edging down. The decline in operating rate this week was mainly due to weak end-use demand suppressing production enthusiasm. By sector, orders from downstream tyre factories for rubber-grade zinc oxide were weak, and daily-use rubber demand showed mediocre performance; orders for electronic-grade zinc oxide were relatively stable; demand for feed-grade and ceramic-grade zinc oxide was also mediocre. Meanwhile, chaotic market quotations persisted, and manufacturers' profits were under pressure. Looking ahead to next week, the operating rate of zinc oxide is expected to fluctuate around 53.65%.

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