Zinc Hovers Near 4-Year High

2026-06-23 03:19 By Judith Sib-at 1 min. read

Zinc futures hovered near $3,600 per tonne, close to a four-year high, as market sentiment improved following progress in US–Iran talks.

The first round of talks in Switzerland concluded with both sides agreeing on a roadmap toward a final deal, easing concerns over further disruptions to global economic activity and improving expectations for industrial demand.

Additional support came from tightening near-term supply conditions after production setbacks at key facilities.

Glencore’s Kazzinc facility in Kazakhstan is operating at reduced capacity after an explosion, while Nexa’s Cajamarquilla smelter in Peru was temporarily suspended due to fire damage, though production is gradually resuming.

In addition, a seismic event at Boliden’s Garpenberg mine earlier this year has raised concerns about the possibility of prolonged lower output.

However, a strong US dollar is weighing on zinc prices, as it makes dollar-priced commodities less attractive for buyers using other currencies.



News Stream
Zinc Hovers Near 4-Year High
Zinc futures hovered near $3,600 per tonne, close to a four-year high, as market sentiment improved following progress in US–Iran talks. The first round of talks in Switzerland concluded with both sides agreeing on a roadmap toward a final deal, easing concerns over further disruptions to global economic activity and improving expectations for industrial demand. Additional support came from tightening near-term supply conditions after production setbacks at key facilities. Glencore’s Kazzinc facility in Kazakhstan is operating at reduced capacity after an explosion, while Nexa’s Cajamarquilla smelter in Peru was temporarily suspended due to fire damage, though production is gradually resuming. In addition, a seismic event at Boliden’s Garpenberg mine earlier this year has raised concerns about the possibility of prolonged lower output. However, a strong US dollar is weighing on zinc prices, as it makes dollar-priced commodities less attractive for buyers using other currencies.
2026-06-23
Zinc Remains Near 4-Year High
Zinc futures hovered around $3,600 per tonne, remaining near a four-year high, supported by easing geopolitical tensions and tight near-term supply conditions. The US and Iran remotely signed a memorandum of understanding to end their war, alleviating fears about global economic growth and improving the outlook for industrial demand. At the same time, recent disruptions across major producers have reinforced supply concerns. Glencore’s Kazzinc facility in Kazakhstan is running at reduced capacity after an explosion, while Nexa’s Cajamarquilla smelter in Peru was temporarily suspended due to fire damage, though production is gradually resuming. Goldman Sachs also noted that Boliden’s Garpenberg mine in Sweden could operate at structurally lower output levels for longer after a seismic activity earlier this year. Meanwhile, the US dollar strengthened amid increased bets on a Federal Reserve rate hike, pressuring dollar-priced commodities.
2026-06-18
Zinc Moves to Near 4-Year High
Zinc futures rose toward $3,600 per tonne, returning to levels close to a four-year high, supported by easing geopolitical tensions and tight supply conditions. Sentiment improved after the US and Iran reached an agreement to end their conflict, which helped ease concerns over global economic growth and improved expectations for industrial demand. At the same time, recent disruptions across key producers have reinforced concerns about global availability, especially as the International Lead and Zinc Study Group projects a refined zinc deficit of around 19,000 tonnes this year. Glencore’s Kazzinc facility in Kazakhstan is running at reduced capacity after an explosion, while Nexa’s Cajamarquilla smelter in Peru was temporarily suspended due to fire-related damage, though it recently announced a gradual resumption of production. Partially offsetting these constraints, Boliden’s Garpenberg mine is expected to resume production in the second quarter.
2026-06-15