ZINC INGOT

Global Zinc Insight Q4 2026 — Supply Tightness, Demand Slowdown, and Leading Financial Institutions’ Perspectives By SO OK TRADING | October 1, 2026 Global zinc prices remain elevated, though they have entered a slight correction phase following the September peak season. As of October 1, 2026, zinc is trading at USD 3,819–3,821 per metric ton, down about 1% month‑on‑month, yet still more than 26% higher year‑on‑year. This reflects the persistent supply constraints across the global market. This analysis explores the bullish and bearish drivers shaping zinc prices, the latest developments in the LME and SHFE markets, and insights from leading financial institutions including JP Morgan, Goldman Sachs, and SMM. All three agree that despite slowing demand, zinc prices are expected to remain at high levels throughout Q4 2026, supported by tight supply and historically low inventories. Readers will gain a clear view of the expected price range of USD 3,400–3,950 per ton, the average forecast of USD 3,500–3,650 per ton, the impact of rising Asian premiums, and practical risk management strategies for Thai businesses in the non‑ferrous metals industry.

**Global Metal Price Analysis (ZINC – LEAD – ANTIMONY) and the Impact on Thai Industry SO OK TRADING | September 22, 2026** In the second half of 2026, the global base metals market is entering a “structural transition.” As the world shifts from traditional economies to the clean energy era, rising energy costs and geopolitical uncertainties are driving volatility. Zinc, Lead, and Antimony — essential raw materials for Thai industries — clearly reflect the ongoing realignment of global supply chains. SO OK TRADING has compiled in-depth insights and global price trends, analyzing their impact on Thailand’s manufacturing sector. This aims to help businesses plan strategies to navigate market volatility and the Thai baht’s depreciation expected toward the end of the year. This article explores:

Global Non-Ferrous Metals Price Outlook (September 21–25, 2026) Market Overview with Ceiling–Average–Floor Forecasts Article by SO OK TRADING | September 20, 2026 Introduction The global non-ferrous metals market this week continues to face pressure from major macroeconomic factors, particularly the interest rate hikes by the U.S. Federal Reserve (Fed) and Gulf States. These moves have strengthened the U.S. dollar, exerting short-term downward pressure on commodity prices. However, supply tightness across key metals remains a critical support, preventing prices from breaking below major support levels. Market Outlook The London Metal Exchange (LME) is currently in a “Consolidation to Rebound” phase. While prices were pressured in mid-September, strong physical demand helped them recover by the end of last week. Copper and Zinc, in particular, are supported by supply disruptions, keeping prices elevated. SO OK TRADING’s Perspective Toward the end of September, the non-ferrous metals market is expected to remain range-bound but shows potential for medium-term recovery. Metals with tight supply conditions—Copper, Aluminium, and Zinc—will remain the key focus. For procurement teams in Thailand, adopting hedging strategies and term contracts is recommended to mitigate price volatility. Monitoring external factors such as the U.S. dollar’s trajectory and China’s economic indicators (PMI) will be essential in gauging real demand trends across Asia. SO OK TRADING FAST • SHARP • RELIABLE Your trusted partner in the global non-ferrous metals market

Non-Ferrous Recycling 2026 – Transforming Scrap into Global Strategic Resources SO OK TRADING | September 18, 2026 In a world driven by clean energy and the circular economy, non-ferrous metals are no longer seen as “waste.” They are being elevated into global strategic resources, shaping the future of electric vehicles (EVs), digital infrastructure, and low-carbon technologies. The recycling industry is becoming the beating heart of the green transition — where Copper, Aluminum, Lead, and Zinc are not just raw materials, but the driving force behind a sustainable future. SO OK TRADING, as a trusted international partner from Thailand, is committed to delivering high-quality non-ferrous recycling to the global market. With expertise in Smart Sorting, AI Integration, and Circular Economy Solutions, we set new standards for metals in the low-carbon era. ✨ FAST • SHARP • RELIABLE SO OK TRADING – The true leader in Non-Ferrous business from Thailand

“Fed Raises Interest Rate 0.25% — Global Shock, Thai Impact: SO OK TRADING’s In-Depth Analysis on Non-Ferrous Metals and Thailand’s Economy”

“LME Slumps – Strong Dollar Pressures Metal Market and Thai Baht | SO OK TRADING | 14 September 2026” The London Metal Exchange (LME) saw a significant decline today, following recent record highs across several metals. The downturn was driven by concerns over U.S. inflation and expectations of further interest rate hikes by the Federal Reserve (Fed), which strengthened the U.S. dollar and triggered profit-taking across global metal markets. This development not only impacts commodity prices but also led to the Thai baht weakening to 33.25 per U.S. dollar, directly affecting both import costs for metals and export revenues for Thai businesses. This analysis by SO OK TRADING provides an in-depth look at industrial and precious metal markets, currency trends, and price directions to watch in late 2026 — offering valuable insights for strategic planning and effective risk management.

Industrial & Precious Metals Outlook A Week of Pressure from FED (High Probability of Rate Hike) and Strong Dollar | 14–18 September 2026 | SO OK TRADING Introduction This week, the industrial and precious metals markets are entering a phase of high volatility, driven by macroeconomic pressures. The key factors are the anticipated interest rate hike by the U.S. Federal Reserve (FED) and the strengthening U.S. dollar, both of which directly impact global commodity prices. At the same time, the market continues to be supported by structural demand from modern industries such as Electric Vehicles (EV), Data Centers, Renewable Energy, and China’s large-scale power grid projects. These forces help prevent a sharp decline in prices despite external pressures. Overall, major metals such as Copper, Aluminium, Zinc, and Tin remain in high trading ranges, supported by historically low stock levels. Meanwhile, Gold and Silver continue to move within narrow bands under the weight of interest rate expectations and dollar strength. Key Trends This Week

SO OK TRADING — The True Leader in Non‑Ferrous Metals from Thailand In an era where global industries are moving toward sustainability and new quality standards, SO OK TRADING stands as a name that reflects trust, professionalism, and strength in the non‑ferrous metals market. We are a strategic partner, ready to meet the diverse needs of customers and industries worldwide. ⚙️ Our Core Products Aluminum P1020 (Primary Ingot) — Premium aluminum (99.7% purity, LME certified), ideal for packaging, wiring, and construction. Copper Cathode — High‑grade copper for electrical and electronic applications. Lead Bullion — Pure lead (recycled from batteries) for battery and alloy industries. Silicon Metal — For alloys, chemicals, construction, and semiconductors. Non‑Ferrous Metals of All Types — From recycled scrap to refined metals for automotive, electronics, and construction sectors.

“The Future of EV Industry 2026 ⚡ Strategic Transition & The Role of Non-Ferrous Metals” By SO OK TRADING — September 9, 2026 2026 marks a pivotal turning point for the global and Thai electric vehicle (EV) industry. After years of rapid growth, the market is entering a “strategic adjustment phase” defined by intense price competition, localization of production, and mounting geopolitical pressures. At the same time, Non-Ferrous Metals — Lithium, Nickel, Copper, Aluminium, and Cobalt — have become the backbone of EV manufacturing. Each EV requires 3–6 times more minerals than a traditional internal combustion engine vehicle, making these resources critical to the industry’s future. Globally, the EV market is shifting toward the Mass Market, driven by affordable EV models and the commercialization of Solid-State Batteries. In Thailand, the transition to domestic production (CKD) under the 30@30 policy is accelerating, with annual BEV registrations projected to exceed 125,000 units. Non-Ferrous Metals are no longer just raw materials — they are the “new economic engine” linking the automotive industry to clean energy and the circular economy. SO OK TRADING — Your Trusted Partner in Non-Ferrous Metals FAST | SHARP | RELIABLE

Zinc Price Surges Beyond $4,000 – The Perfect Storm Shakes the Global Metals Market SO OK TRADING | September 9, 2026 September 2026 marks a turning point in the global metals market as zinc prices break through the $4,000 per metric ton threshold, reaching a new four-year high of $4,156 on the London Metal Exchange (LME). This dramatic surge reflects severe supply-side disruptions, which analysts worldwide have dubbed a “Perfect Storm” — a combination of China’s power curbs, smelter production cuts, and critically low zinc inventories that have pushed the market into acute shortage. This rapid price escalation not only highlights strong buying pressure in the global market but also directly impacts downstream industries in Thailand. Key sectors such as galvanized steel, automotive, and electronics manufacturing are now facing significantly higher production costs in line with global market dynamics. As a trusted partner in the non-ferrous metals business, SO OK TRADING provides in-depth analysis of this situation, offering insights and strategies to help Thai enterprises plan procurement and manage risks effectively. FAST • SHARP • RELIABLE SO OK TRADING – The Non-Ferrous Metals Specialist from Thailand

LME Metals Market Analysis : SO OK TRADING : September 8, 2026 “Copper Soars to Record Highs – Aluminum Holds Firm – Zinc Faces Shortages as Base Metals Become the Lifeblood of the Global Economy” ✨ Introduction On September 8, 2026, the global metals market marked a historic milestone. Copper prices on the London Metal Exchange (LME) surged to an all-time high of US$14,533 per ton, reflecting mounting pressure from U.S. import tariffs and unprecedented supply constraints worldwide. At the same time, other metals such as aluminum, zinc, tin, and nickel moved in directions that highlight the structural transformation of the global economy — shifting from the industrial age to the era of AI, data centers, and renewable energy.

Non-Ferrous Metal Power Play: LME vs ShFE vs COMEX Metal Trading Hub 2026: From London to Asia — Copper, Aluminium & Beyond By SO OK TRADING • September 7, 2026

Global Zinc Market Surges to 4-Year High LME ZINC PRICE ANALYSIS : SO OK TRADING : 4 SEP 2026 Global zinc prices have reached their highest level in four years, reflecting tight supply conditions and strong demand from clean energy and electric vehicle (EV) industries. According to the latest data from the London Metal Exchange (LME), the 3‑month forward zinc price closed at USD 3,912/MT (+1.22%), while the global average trading price stood at USD 3,900/MT — the highest since 2022. On the supply side, mine disruptions in Sweden, the US, and Peru, combined with negative treatment charges (TCs) in China, have pushed global inventories to their lowest level in three years. On the demand side, galvanizing and EV components continue to drive consumption, accounting for more than 50% of global zinc usage. SO OK TRADING analysis indicates that zinc prices will remain elevated throughout the remainder of 2026, with fluctuations expected in the USD 3,800–4,100/MT range. The average price in Q4 is projected at USD 3,400–3,700/MT, before a slight correction in 2027. ✨ Summary The global zinc market is entering one of its strongest upcycles in recent years. Thai businesses should closely monitor price movements and adopt proactive cost management strategies to stay competitive in an increasingly challenging regional market. SO OK TRADING — FAST • SHARP • RELIABLE Your trusted partner in the Non‑Ferrous metals market from Thailand

Thailand Economy 2026–2032: Non-Ferrous Metals Driving the Clean Energy & Digital Transition SO OK TRADING | FAST • SHARP • RELIABLE

SO OK TRADING – Trusted Non-Ferrous Expert 31 August 2026 SO OK TRADING is your trusted business partner in the Non-Ferrous Metals industry. We are committed to supplying high-quality raw materials that meet international standards, ensuring on-time delivery and flexible sourcing solutions. With over 10 years of expertise in the global metals market, we connect the world to Thailand, and Thailand to the world, creating new opportunities for our partners. ⚙️ Our Product Range We provide a full spectrum of Non-Ferrous Metals:

“Zinc Rally 2026: Prices Surge to a 4-Year High, Shaking Global Supply Chains and Thailand’s Industries” The year 2026 marks a turning point in the global zinc market. Prices have soared to their highest levels in more than four years, driven by severe supply disruptions from major mines halting production and smelter fees plunging into negative territory for the first time in history. This situation has triggered a short squeeze across global metals markets, while structurally impacting downstream industries in Thailand, which relies on zinc imports for nearly 100% of its demand. On the LME, zinc cash settlement prices reached $3,987/ton, while the 3‑month contract stood at $3,853/ton. Inventories fell to just 95,050 tons, the lowest in months, reflecting a sharp backwardation with spreads of $132–156/ton. Key drivers include rising demand from clean energy, green infrastructure, and electric vehicles (EVs). Meanwhile, producers worldwide face mounting environmental pressures and Europe’s CBAM (Carbon Border Adjustment Mechanism), accelerating the adoption of Green Zinc and recycled zinc. In Thailand, galvanized steel and automotive components industries are grappling with significant cost increases. Yet, this also opens opportunities for innovation, such as developing advanced materials like ZAM (Zinc-Aluminium-Magnesium) and exploring substitutes to support the transition toward a green economy. SO OK TRADING Your trusted partner in the global metals market FAST • SHARP • RELIABLE

Global Non-Ferrous Metals Heat Up! Divergent Market — Clean Energy Metals Surge While Traditional Metals Stay Flat Bullish Momentum! In-Depth Outlook on Copper, Aluminium, Tin & Zinc (Aug 24–28, 2026) By SO OK TRADING | August 22, 2026 The global non-ferrous metals market has entered its hottest phase of the year. Zinc has broken past $3,800/ton, while copper, aluminium, and tin continue to rally, driven by demand from AI data centers and clean energy infrastructure worldwide. In contrast, traditional metals such as lead and nickel remain in a sideways trend, weighed down by oversupply.

Mid-August Metal Heatwave: Tight Supply, New Global Demand Base Metals Price Outlook — August 17–21, 2026 SO OK TRADING — FAST | SHARP | RELIABLE The global base metals market is entering the hottest phase of the year. A weakening U.S. dollar, LME inventories plunging to multi-decade lows, and surging demand from AI industries, data centers, and power grid expansion are driving copper, aluminum, zinc, and lead prices to hold firm at elevated levels — with potential for further upside momentum. ⚙️ Weekly Highlights Copper: Strong bullish structure, testing resistance at $14,521 with a psychological target at $15,000. Aluminum: Tightest supply in 36 years; RSI signals overbought, yet energy demand keeps momentum alive. Zinc: Ascending triangle formation; a breakout above $3,880 could open the path to $4,000. Lead: Range-bound movement; best suited for short-term technical traders.

The global metals market is heating up as we enter a new week! The latest U.S. employment data shocked the market with a -23,000 decline, sending the dollar sharply lower and triggering a broad rebound across global commodities. Copper, aluminum, gold, and silver all surged, supported by both macroeconomic shifts and intensifying geopolitical tensions. Next week (August 10–14, 2026) is shaping up to be a critical turning point for the global metals market, with the U.S. CPI set for release — a key inflation indicator that could redefine investment strategies and spark major market movements. In this analysis, SO OK TRADING provides a comprehensive multi‑angle outlook: Copper breaking above $14,000, aluminum holding firmly above $3,200, and gold climbing back toward $4,400 per ounce. We also examine the deeper impacts of the ongoing trade war, the Hormuz Strait crisis, and the rising wave of resource nationalism that is reshaping the global metals landscape.

ZINC INGOT 2026–2027: The Strategic Metal of the New Industrial Era Knowledge Insight by SO OK TRADING | 8 AUG 2026 ✨ Overview & Properties Zinc Ingot is pure zinc refined and cast into silver-blue metallic blocks. It serves as a fundamental raw material across global industries — from galvanized steel and alloys to clean energy and advanced electronics. Key Properties

ZINC OUTLOOK 2026–2027 – Riding the Zinc Surge into a New Industrial Era Article by SO OK TRADING | July 10, 2026 Zinc prices on the London Metal Exchange (LME Zinc) have soared to a multi‑year high of USD 3,622 per ton (Cash), reflecting the intense momentum in the base metals market that is rapidly reshaping global industry. In 2026–2027, zinc is emerging as a true “strategic metal” — connecting infrastructure, electric vehicles, and clean energy. Amid tight supply and surging energy costs, businesses worldwide are closely watching price trends that could mark a pivotal turning point for the metals market in this century.