[may 12 SMM Zinc data]

[Monthly Galvanized Sheet Import Data] According to the latest customs data, the import volume of galvanized sheets in August 2026 was 50,300 tons, representing a month-on-month decrease of 12.32% and a year-on-year decrease of 32.93%. From January to August, the cumulative import volume of galvanized sheets reached 435,200 tons, marking a cumulative year-on-year decrease of 15.52%.

NBS data shows that China's sulphuric acid (100% equivalent) production in August was 7.984 million mt, down 308,000 mt from 7.676 million mt in July, a YoY decline of 15.5%. The cumulative production of sulphuric acid (100% equivalent) in 2026 was 68.141 million mt, a cumulative YoY decline of 4.6%.

Since 10 July, SMM Chinese sulfuric acid price index from Copper smelters has declined for 11 consecutive weeks on a weekly basis. This weekend, sulphuric acid prices were further reduced in some regions, with the ex-works price of 98% smelting acid falling below 1,000 yuan/mt. However, demand from the fertiliser industry has yet to show any clear improvement, and there are no signs that exports of sulphuric acid and phosphate fertiliser can be restarted, leaving the market dominated by a strong wait-and-see sentiment.