What are the holiday arrangements for galvanising enterprises during the Labour Day holiday?[Analysis]

As the Labour Day holiday approaches, SMM conducted a survey on the holiday arrangements of galvanising enterprises during the Labour Day holiday. This survey involved 27 galvanising enterprises with a total capacity of 21.38 million mt. According to SMM, some enterprises took a holiday ranging from 1 to 5 days during the Labour Day holiday, while others chose to operate normally without taking a holiday, affecting zinc consumption by approximately 5,309 mt in total. According to SMM, the overall galvanizing operating data in April was good, with steel tower orders still performing well. Additionally, the State Grid launched a new round of tenders for steel tower projects at the end of April, with a notable increase in the growth rate of UHV steel towers. However, PV orders fell short of expectations this year, and overall demand pulled back. In terms of exports, despite a 90-day grace period for tariffs, trading companies stocked up on goods, and some enterprises saw an increase in "rush export" orders in April. However, most enterprises were concerned about sudden tariff increases during transportation, and downstream enterprises were cautious. The increase in export orders was not significant, and growth in May is uncertain. Overall, orders were weaker compared to last year, and the average number of holiday days increased compared to last year. Regarding raw material inventories, zinc prices were in the doldrums overall in April, with downstream enterprises engaging in more point-price restocking, significantly increasing raw material inventory levels. Since the beginning of this year, concerned about market fluctuations, most enterprises have opted for a low-inventory turnover model, resulting in not-high finished product inventories. SMM will continue to monitor the resumption of work after the Labour Day holiday.