SMM News:
As of Friday (Oct. 25), stocks of zinc ingots in Shanghai Free Trade Zone were 82200 tons, down 1900 tons from last week, according to SMM. It is understood that since the export of some zinc ingots from the bonded area last week, the bonded zone continued to export to Southeast Asia this week.

![End-use demand underperforms, zinc oxide operating rates edge down [SMM Zinc Oxide Weekly Review]](https://imgqn.smm.cn/usercenter/tAyyp20251217171754.jpg)
![Die-casting zinc alloy operating rates trend lower, expected to decline further next week [SMM die-casting zinc alloy weekly review]](https://imgqn.smm.cn/usercenter/EviJV20251217171754.jpg)
![Pre-holiday Stockpiling Drives Inventory Decline, Zinc Prices Consolidate at Highs [SMM Zinc Futures Brief]](https://imgqn.smm.cn/usercenter/ipTIN20251217171755.jpg)
