Galvanising Enterprises' Labour Day Holiday Leave in 2026 Increased YoY[SMM Analysis]

Published: Apr 30, 2026 14:37

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Ahead of the Labour Day holiday, SMM surveyed galvanising enterprises on their holiday arrangements. This survey covered 27 galvanising enterprises with a total capacity of 20.10 million mt. According to SMM, some enterprises will take 1-13 days off during the Labour Day holiday, while others will maintain normal production without any break, with an estimated total impact on zinc consumption of approximately 5,785 mt.

According to SMM, overall galvanizing operating data in April were solid but slightly weaker YoY. Steel tower orders remained strong, though most were placed before the Chinese New Year, and newly tendered orders after the holiday still need time to materialize. Three new UHV lines are expected to be completed this year, though exact timelines remain to be confirmed, and steel tower orders are expected to remain robust. However, PV orders have fallen short of expectations this year, with new installations declining notably and overall demand pulling back. Export side, orders from Southeast Asia and Europe remained relatively strong, but due to rising freight costs, downstream enterprises were cautious, with no significant increase in export orders, and growth in May is unlikely. Overall orders weakened YoY, and average holiday days increased YoY.

Raw material inventory side, zinc prices pulled back to low levels in April, and downstream enterprises restocked at opportune prices, lifting raw material inventory levels slightly. Given significant price fluctuations, most enterprises opted for a low-inventory turnover model, with raw material inventories lower than in previous years. Finished product inventory side, most enterprises maintained a low-inventory operating model, and finished product inventories remained low.

SMM will continue to monitor the post-Labour Day holiday production resumption.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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