Zinc Holds Decline

2026-04-07 02:24 By Judith Sib-at 1 min. read

Zinc futures hovered below $3,300 per tonne, holding their retreat from a near three-week high, amid fears that a prolonged Middle East conflict could dampen demand.

President Trump issued an ultimatum to Iran to reopen the Strait of Hormuz, warning that the US would target Iran’s bridges and power infrastructure if Tehran failed to comply.

Iran rejected the ultimatum and a mediated proposal for a temporary ceasefire.

The situation also drove investors toward the US dollar as a preferred safe-haven asset, adding further pressure on dollar-denominated commodities.

Still, the downside was limited by improving industrial signals and short-term supply tightness.

China’s factory activity returned to expansion in March, lifting demand expectations.

Supply constraints, including earlier mine closures and delays, also supported prices.

Meanwhile, the restart of Boliden’s Tara mine and ramp-up of production at Ivanhoe Mines’ Kipushi project are expected to keep the market in a modest surplus.



News Stream
Zinc Holds Decline
Zinc futures hovered below $3,300 per tonne, holding their retreat from a near three-week high, amid fears that a prolonged Middle East conflict could dampen demand. President Trump issued an ultimatum to Iran to reopen the Strait of Hormuz, warning that the US would target Iran’s bridges and power infrastructure if Tehran failed to comply. Iran rejected the ultimatum and a mediated proposal for a temporary ceasefire. The situation also drove investors toward the US dollar as a preferred safe-haven asset, adding further pressure on dollar-denominated commodities. Still, the downside was limited by improving industrial signals and short-term supply tightness. China’s factory activity returned to expansion in March, lifting demand expectations. Supply constraints, including earlier mine closures and delays, also supported prices. Meanwhile, the restart of Boliden’s Tara mine and ramp-up of production at Ivanhoe Mines’ Kipushi project are expected to keep the market in a modest surplus.
2026-04-07
Zinc Retreats
Zinc futures fell below $3,300 per tonne, retreating from a near three-week high, as uncertainty over the duration of the Middle East conflict clouded the demand outlook. President Donald Trump said the US will strike Iran “extremely hard” in the next two to three weeks, potentially targeting civilian infrastructure if negotiations fail, even as he signaled the war is “very close” to completion. However, losses were limited by signs of improving industrial activity and short-term supply tightness. China's factory activity returned to expansion in March, supporting demand prospects for base metals. Inventories at the Shanghai Futures Exchange declined 2.3% over the past week, while other supply constraints, including low stockpiles and disruptions caused by mine closures and operational delays, further supported prices. Meanwhile, the restart of Boliden’s Tara mine and the production ramp-up at Ivanhoe Mines’ Kipushi project are expected to keep the market in a small surplus.
2026-04-02
Zinc Rises to Near 3-Week High
Zinc futures rose past $3,300 per tonne, hitting their highest level in nearly three weeks, as improving industrial activity and tightening supply conditions provided support. China's factory activity returned to expansion in March, lifting demand prospects for base metals. Sentiment was further supported by Beijing’s policy signals, including a commitment to maintain ample liquidity. On the supply side, inventories at the Shanghai Futures Exchange dropped 2.3% over the past week, signaling short-term supply tightness. Other supply constraints, including low stockpiles and disruptions caused by mine closures and operational delays, also contributed to upward pressure on prices. However, price gains remain capped due to concerns over the global economic fallout from the Middle East conflict, which could weigh on demand. Additionally, the restart of Boliden’s Tara mine and the production ramp-up at Ivanhoe Mines’ Kipushi project are expected to keep the market in a small surplus.
2026-03-31