Chengdu, China [March 25–27, 2026] — 2026 SMM (21st) Lead & Zinc Conference and Industry EXPO (SMMPbZn), the foremost gathering for the lead and zinc industry, is set to take place from March 25 to 27, 2026, at the Howard Johnson Agile Plaza in Chengdu, China.

According to the latest customs data, China's die-casting zinc alloy exports in December 2025 reached 583 mt, down both YoY and MoM. However, on an annual basis, total die-casting zinc alloy exports in 2025 reached 7,259 mt, up 36.7% YoY, hitting a decade high. Meanwhile, imports fell to a ten-year low (2025 die-casting zinc alloy imports: 43,525 mt, down 12.4% YoY; December imports: 3,302 mt, also down both YoY and MoM), showing a notable pattern of rising exports and falling imports.

SMM Analysis：According to the latest customs data, galvanized sheet exports in December 2025 reached 1.3891 million mt, up 16.87% MoM and 34.82% YoY. Cumulative galvanized sheet exports from January to December 2025 totaled 14.3214 million mt, up 12.36% YoY. Overall, December's domestic galvanized sheet exports hit a record high......

SMM Analysis：According to the latest customs data, China imported 462,500 mt in physical content of zinc concentrates in December 2025, down 10.87% (56,400 mt in physical content) MoM from November, but up 1.15% YoY. Cumulative zinc concentrate imports for January-December totaled 5.3305 million mt in physical content, up 30.1% YoY......

According to the latest customs data, refined zinc imports in December 2025 were 8,700 mt, down 9,500 mt or 51.94% MoM, and down 73.4% YoY. From January to December, cumulative refined zinc imports reached 304,000 mt, a cumulative decrease of 31.78% YoY. Refined zinc exports in December were 27,200 mt, resulting in a net export of 18,500 mt for the month.

Against a backdrop of recovering yet increasingly differentiated global zinc mine supply, changes in mine-level output have become more informative for assessing zinc concentrate supply–demand balances and treatment charge dynamics. To better capture supply timing and regional divergence, SMM has officially launched its Global Zinc Mine Zinc Concentrate Quarterly Production Data, designed to complement the existing annual production dataset and provide the market with a higher-frequency, more structurally detailed view of mine supply.

SMM Analysis：According to SMM data, the average operating rate of China's private galvanized sheet producers in 2025 was around 78%, up YoY. China Customs data shows that galvanized sheet exports in November 2025 totaled 1.1885 million mt, down 8.53% MoM but up 13.6% YoY. Cumulative galvanized sheet exports from January to November 2025 reached 12.93 million mt, up 10.38% YoY. For the full year, the main growth driver in the galvanized sheet market was export consumption, while domestic demand remained weak......

[Future Price Trend Insights: 2026 Zinc Ingot Long-Term Contract Price Summary] At the beginning of the new year, the signing of 2026 long-term contracts has been largely completed, and a new execution cycle has commenced. The market is paying close attention to the performance of zinc smelters regarding long-term contract execution this year. SMM has compiled and communicated the long-term contract price details for some enterprises in 2026 as follows: