[Guangdong Zinc: Insufficient Downstream Procurement Enthusiasm, Spot Premiums Decline] The mainstream transactions of 0# zinc in Guangdong were concluded at 22,640-22,795 yuan/mt. Mainstream brands were quoted at a premium of 280 yuan/mt against the 2507 contract, and at a discount of 140 yuan/mt against spot cargo in Shanghai. The Shanghai-Guangdong price spread widened....

[Shanghai Zinc: Futures Market Weakens Slightly, Downstream Restocks at Lower Prices]: Today, the mainstream transaction prices of 0# zinc were concentrated in the range of 22,650-22,785 yuan/mt, with Shuangyan zinc trading at 22,940-23,075 yuan/mt, and 1# zinc trading mainly at 22,580-22,715 yuan/mt. In the morning session, the market offered a premium of 40-60 yuan/mt against the average price, with no quotes against the futures market...

[Ningbo Zinc: Increased Quotes from Traders, Spot Premiums Remain Stable] The transaction prices for mainstream brand 0# zinc in the Ningbo market were around 22,660-22,775 yuan/mt. The quotes for mainstream brands in Ningbo against the 2506 contract were at a premium of 270 yuan/mt, and against Shanghai spot cargo were at a premium of 40 yuan/mt. Mainstream quotes in the Ningbo region were made against the 2506 contract...

[Tianjin Zinc: Weakening Demand, Premiums Continue to Decline] In the Tianjin market, mainstream transactions for #0 zinc ingot were concluded at 22,580-22,790 yuan/mt, with Zijin transactions at 22,660-22,800 yuan/mt. Transactions for #1 zinc ingot were around 22,260-22,390 yuan/mt, while Huludao reported prices at 26,010 yuan/mt. The premium for ordinary #0 zinc against the 2506 contract was reported at around 200-290 yuan/mt, with Zijin reporting a premium of 280-300 yuan/mt against the 2506 contract. Tianjin prices were quoted at a discount of around 20 yuan/mt compared to Shanghai prices.

On Friday evening, LME copper opened at $9,519/mt, initially touching a high of $9,541.5/mt before slightly pulling back and then continuing to rise.

[SMM Zinc Morning Comment] Last Friday, LME zinc opened at $2,726.5/mt. After opening, LME zinc briefly touched a high of $2,733/mt, then declined all the way to below the daily average line, touching a low of $2,679/mt. During the European trading session, as bulls increased their positions in SHFE zinc, the price center of SHFE zinc moved slightly higher, fluctuating considerably around the daily average line. In the tail end of the session, LME zinc declined, eventually closing down at $2,686/mt, down 40 yuan/mt or 1.47%. Trading volume decreased to 98,763 lots, while open interest increased by 3,392 lots to 228,000 lots...

[SMM Morning Meeting Summary: Increased Macro Uncertainty Leads to LME Zinc Under Pressure] Last Friday, LME zinc opened at $2,726.5/mt. After opening, LME zinc briefly touched a high of $2,733/mt before declining all the way below the daily average line to a low of $2,679/mt. During the European trading session, bulls increased their positions in SHFE zinc, causing the price center to rise slightly and fluctuate considerably around the daily average line. At the end of the session, LME zinc declined, closing down at $2,686/mt, a drop of 40 yuan/mt or 1.47%. Trading volume decreased to 98,763 lots, while open interest increased by 3,392 lots to 228,000 lots.

April is traditionally a peak season, and the overall demand for galvanizing was relatively robust. Due to issues such as tariffs, there was a certain degree of early release of future demand, and the overall operation was good. How did the regions of North China, East China, and South China perform? Can the robust trend continue in May?

[Galvanising operating rates reached a nearly three-year high in April. How did different regions perform?] April, as a traditional peak season, saw robust overall demand for galvanising. Due to issues such as tariffs, there was an early release of future demand, resulting in relatively good overall operating rates. How did North China, east China, and South China perform respectively? Can the robust trend continue in May?

[How Has the Downstream Consumption of Various Die-Casting Zinc Alloy Sectors Performed Recently Amid the Sino-US Joint Statement Boosting Market Vitality?] On May 12, China and the US issued the "Sino-US Joint Statement on the Geneva Economic and Trade Talks", easing trade tensions. Amid the ever-changing macro landscape, how has the recent downstream consumption of China's die-casting zinc alloy performed? First, from the perspective of zinc prices and the operating rate of die-casting zinc alloy, domestic zinc prices in April continued to decline due to macro fluctuations, reaching a new low in 2025 and falling below 22,000 yuan/mt. The low prices prompted most end-users to buy the dip, coupled with some end-users in the market taking limited "rush exports" actions, thereby driving an improvement in orders for die-casting zinc alloy enterprises in April. The following analysis will delve into sectors such as real estate, auto parts, and exports...