Zinc Hovers Near 3½-Year High

2026-05-18 04:01 By Judith Sib-at 1 min. read

Zinc futures held above $3,500 per tonne, hovering near a more than 3½-year high, supported by tightening supply conditions following recent disruptions.

Operations at Nexa’s Cajamarquilla smelter in Peru were temporarily halted after a fire, while Glencore’s Kazzinc plant in Kazakhstan reduced capacity following a blast.

Falling inventories and declining treatment charges for zinc concentrate further highlight constrained availability of raw materials.

Ongoing mine closures have also added to supply-side strain.

Some relief, however, may come from the expected restart of Boliden’s Tara mine, the ramp-up of Ivanhoe’s Kipushi project, and the resumption of output at Garpenberg in the second quarter, all of which could add incremental supply.

On the demand side, improving industrial activity in China is offering some support, although ongoing uncertainty in the Middle East continue to weigh on the broader outlook.



News Stream
Zinc Hovers Near 3½-Year High
Zinc futures held above $3,500 per tonne, hovering near a more than 3½-year high, supported by tightening supply conditions following recent disruptions. Operations at Nexa’s Cajamarquilla smelter in Peru were temporarily halted after a fire, while Glencore’s Kazzinc plant in Kazakhstan reduced capacity following a blast. Falling inventories and declining treatment charges for zinc concentrate further highlight constrained availability of raw materials. Ongoing mine closures have also added to supply-side strain. Some relief, however, may come from the expected restart of Boliden’s Tara mine, the ramp-up of Ivanhoe’s Kipushi project, and the resumption of output at Garpenberg in the second quarter, all of which could add incremental supply. On the demand side, improving industrial activity in China is offering some support, although ongoing uncertainty in the Middle East continue to weigh on the broader outlook.
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