Zinc Futures Hold at Over 2-Month High

2026-04-17 01:04 By Judith Sib-at 1 min. read

Zinc futures held at an over two-month high, trading above $3,400 per tonne, supported by improving market sentiment amid easing US-Iran tensions and signs of tighter near-term supply.

President Donald Trump expressed optimism that a peace deal with Iran could be reached soon, saying a second round of talks may take place over the weekend.

On the supply side, inventories at the Shanghai Futures Exchange fell by 1.7% over the past week, signaling tighter availability, while ongoing mine closures and operational disruptions have also limited immediate supply.

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

This aligns with data showing that the market moved into surplus in January.

Demand conditions continue to offer support, with forecasts pointing to annual growth of around 2%.



News Stream
Zinc Futures Hold at Over 2-Month High
Zinc futures held at an over two-month high, trading above $3,400 per tonne, supported by improving market sentiment amid easing US-Iran tensions and signs of tighter near-term supply. President Donald Trump expressed optimism that a peace deal with Iran could be reached soon, saying a second round of talks may take place over the weekend. On the supply side, inventories at the Shanghai Futures Exchange fell by 1.7% over the past week, signaling tighter availability, while ongoing mine closures and operational disruptions have also limited immediate supply. However, the broader outlook remains mixed, as the restart of Boliden’s Tara mine and the ramp-up of production at Ivanhoe Mines’ Kipushi project are expected to keep the market in a modest surplus. This aligns with data showing that the market moved into surplus in January. Demand conditions continue to offer support, with forecasts pointing to annual growth of around 2%.
2026-04-17
Zinc Rises to Over 2-Month High
Zinc futures rose past $3,400 per tonne, reaching their highest level in over two months, supported by improving industrial activity and signs of short-term supply tightness. China’s factory activity returned to expansion, boosting demand expectations for base metals. Additionally, inventories at the Shanghai Futures Exchange dropped by 1.7% over the past week, and ongoing mine closures and operational disruptions continued to keep supplies relatively tight. However, additional output from projects such as Tara and Kipushi, along with increased production plans from other major producers, is expected to keep the market in a slight surplus. Additional support for prices came from hopes of easing tensions between the US and Iran.
2026-04-09
Zinc Hits 1-Month High
Zinc futures rose to around $3,340 per tonne, marking their highest level in a month, following an initial US-Iran ceasefire that eased fears of a major geopolitical escalation. The agreement came just before President Donald Trump’s ultimatum to Iran was set to expire, with Trump suspending all military actions for two weeks and Tehran stating that passage through the Strait of Hormuz would be allowed under its military management. Further supporting prices were improving industrial signals and short-term supply tightness. China’s factory activity returned to expansion in March, lifting demand expectations. Supply-side constraints, including low stockpiles and disruptions caused by mine closures and operational delays, also underpinned 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.
2026-04-08