LME Zinc Prices Plunge after Surge in LME Zinc Inventories? SMM Reports

[SHFE/LME zinc price ratio pulled back below 6.9 and oscillated]: This week, the SHFE/LME zinc price ratio pulled back to around 6.9 and oscillated, with the zinc ingot import window remaining closed. Outside China, the tail risk of the U.S.-Iran conflict declined, market risk appetite improved, and the market focused on subsequent negotiation outcomes. The Australian refinery fire introduced uncertainty over supply, and the LME zinc price center shifted upward.

[Enterprises Resumed Production, Weekly Operating Rates of Die-Casting Zinc Alloy Rose] This week, terminal hardware factories slowed down their procurement and cargo pick-up pace, and die-casting zinc alloy enterprises saw fewer shipments. However, as some enterprises halted production during the week due to factory relocation, finished product inventories remained basically flat compared with last week. The rise in operating rates this week was mainly driven by enterprises that were on holiday last week resuming production this week, pushing operating rates higher...

[Orders Showed Marginal Improvement, Zinc Oxide Operating Rates Rose] Driven by marginal improvement in downstream orders, the industry's operating rate edged up this week...