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During the last working week before the Chinese New Year, the EMM market saw a significant narrowing of its decline after a cumulative drop of 600 yuan/mt the previous week, gradually entering a state of weak stabilization. The mainstream tax-inclusive ex-factory prices in the Manganese Triangle Region (Chongqing Xiushan, Hunan Huayuan, Guizhou Songtao) and Guangxi were quoted at 17,200-17,400 yuan/mt, while distributor prices at Tianjin Port and Huangpu Port ranged from 17,400-17,600 yuan/mt, with the lower end of the price range approaching the key threshold of 17,000 yuan/mt...

According to Shandong Tengda Fasten Tech, the company plans to redirect approximately CNY 166.9 million from a previous domestic expansion project to establish a new stainless steel fastener production facility in Vietnam. The project, to be executed through its subsidiary Công Ty TNHH Vật Liệu Mới Yepp Việt Nam, targets an annual capacity of 18,000 tons with a construction period of two years. The shift comes as global demand for the originally planned drill-tail and flat washer products has softened, prompting the company to optimize capital efficiency and accelerate its global layout.

Overall, macro perspective, the positive and mild signals from the US-China leaders' call have temporarily eased market tensions regarding trade friction expectations, improving risk appetite. The steady progress in the Eurozone's economic recovery has partially offset the pressure from the US's temporary economic weakness, presenting a generally neutral-to-positive global macro environment that offers a relatively stable external backdrop for commodity markets.

[Silicon Metal and Downstream Sectors See Widespread Production Cuts in February; Post-Chinese New Year Recovery Under Scrutiny] Supply and demand both contracted in February, with the balance expected to be tight or show slight destocking. The Chinese New Year holiday is about to end, and post-holiday market activity is primarily characterized by tentative inquiries. Attention is focused on the pace of production resumption at major plants after the holiday, as well as changes in capital sentiment.

The Indonesian aluminum market remained stable during the 2026 Chinese New Year, with production unaffected and bauxite prices holding at USD 28–32 FOB amid RKAB uncertainty. Alumina prices also stayed steady at USD 308 FOB due to feedstock stability and a seasonal lull in Chinese buying activity.

During the Chinese New Year break, LME zinc's price center first declined and then rose. The 40-day moving average consistently supported the daily candlestick of LME zinc. After opening, the price center of LME zinc pulled back, hitting a low of $3,253/mt before rebounding steadily. Overall, the price center recovered, and as of Friday's close, LME zinc settled at $3,378/mt, up $35.5/mt for the week, a gain of 1.06%.