Aluminum Gains in Shanghai to More Than 1-Year High on Recovery

[Zinc Oxide Operating Rates Relatively Stable but Enterprise Profit Margins Narrow] Currently, the overall demand in the zinc oxide industry was relatively stable, but market price involution was prominent. Meanwhile, some enterprises saw rising production costs due to production processes and increased raw material costs, while product selling prices were suppressed by market competition, leaving limited upside room...

[Few Traders Made Shipments in Shanghai Market, Strong Sentiment to Hold Prices Firm]: Spot premiums in Shanghai rose significantly this week, up 50 yuan/mt WoW in weekly average price. As of this Friday, ordinary domestic brands were quoted at premiums of 40-60 yuan/mt against the 2606 contract, while the premium brand Shuangyan was quoted at premiums of 100-160 yuan/mt against the 2606 contract.

[Die-Casting Zinc Alloy Operating Rates Declined Due to Labour Day Holiday] Although some enterprises received long-term contract deliveries at the beginning of the month, post-holiday zinc price rise suppressed enterprises' raw material purchase willingness, and raw material inventory saw slight destocking this week. Finished product inventories side, affected by enterprise production shutdowns during the Labour Day holiday, combined with moderate end-user restocking after the holiday, alloy plant finished product inventories pulled back somewhat...