[SMM News] This week, the operating rate of zinc oxide was recorded at 62.41%, up 2.68% WoW. In terms of orders, this week, the market demand for rubber-grade zinc oxide slowed down due to the overall high inventory levels at downstream tyre factories and agents. For ceramic-grade zinc oxide, the overall order demand for some small enterprises has improved recently, while orders for large enterprises remain relatively stable. For electronic-grade zinc oxide, the overall performance has been sluggish due to the pullback in market demand for end-user resistor products. Orders for feed-grade zinc oxide have remained relatively normal. Regarding export orders, zinc oxide enterprises' cautious attitude towards subsequent end-user export orders remains unchanged, as they believe that macro uncertainties still exist. Meanwhile, the European Union is expected to launch a trade protection investigation into China's tyres, and the prospects for domestic tyre exports remain uncertain.