SMM Analysis：Against the backdrop of drastic changes in the zinc supply-demand pattern and rapid expansion of smelting capacity, zinc price volatility risks have intensified. As one of the primary trading hubs for spot zinc, Shanghai attracts significant market attention. To help industry participants more accurately gauge the pulse of the zinc market and stay informed about real-time trading dynamics, SMM's zinc research team has launched the "Shanghai Zinc Ingot Procurement and Sales Sentiment Index," which is updated daily to provide quantifiable, traceable, and early-warning data references for industry chain clients......

SMM Analysis：In recent years, zinc mine and smelting capacity has expanded rapidly. To better understand changes in the zinc industry's supply-demand pattern and predict price trends, the SMM zinc research team has meticulously developed an upstream inventory system. This system covers multiple critical aspects, including zinc ore inventory, zinc smelting raw material inventory, and zinc ingot finished product inventory, providing industry participants with a more comprehensive and precise inventory monitoring framework.....

SMM Analysis：According to the latest customs data, in terms of galvanized sheet, China's galvanized sheet exports in June 2025 reached 1.1312 million mt, with cumulative exports from January to June 2025 totaling 6.9232 million mt, representing a 12.23% YoY increase compared to the 6.1687 million mt exported in the same period of 2024. Overall, domestic galvanized sheet exports in June remained basically flat compared to May.....

SMM Analysis：According to the latest customs data, in June 2025, 330,000 mt (metric tons) of zinc concentrates were imported, down 32.87% MoM from May (161,600 mt), and up 22.42% YoY. From January to June, the cumulative import volume of zinc concentrates reached 2.5339 million mt, up 47.74% YoY.....

In recent years, trade between China and Southeast Asian countries has become increasingly frequent. Numerous domestic die-casting zinc alloy enterprises and end-users have decided to establish production facilities in Southeast Asia, with many choosing Vietnam as their location.