Zinc Remains Near 4-Year High

2026-07-14 04:14 By Judith Sib-at 1 min. read

Zinc futures held around $3,560 per tonne, staying close to a four-year high as a reported fire at a sulphuric acid unit at a South Korean zinc smelter added to supply concerns.

This followed recent disruptions at key facilities, with Glencore’s Kazzinc in Kazakhstan continuing to run at reduced capacity after an explosion, Nexa’s Cajamarquilla smelter in Peru gradually restarting operations following fire-related damage, and uncertainty over output at Boliden’s Garpenberg mine after seismic activity earlier this year.

Also supporting prices, improving manufacturing data from China, Europe, and the US pointed to resilient industrial activity despite elevated input costs.

However, the supply-demand outlook remained mixed, with China’s refined zinc production rising 9.4% year-on-year in May and Shanghai Futures Exchange inventories edging up 0.6%, indicating stable supply conditions.

Renewed tensions in the Middle East also clouded the demand outlook for industrial commodities.



News Stream
Zinc Remains Near 4-Year High
Zinc futures held around $3,560 per tonne, staying close to a four-year high as a reported fire at a sulphuric acid unit at a South Korean zinc smelter added to supply concerns. This followed recent disruptions at key facilities, with Glencore’s Kazzinc in Kazakhstan continuing to run at reduced capacity after an explosion, Nexa’s Cajamarquilla smelter in Peru gradually restarting operations following fire-related damage, and uncertainty over output at Boliden’s Garpenberg mine after seismic activity earlier this year. Also supporting prices, improving manufacturing data from China, Europe, and the US pointed to resilient industrial activity despite elevated input costs. However, the supply-demand outlook remained mixed, with China’s refined zinc production rising 9.4% year-on-year in May and Shanghai Futures Exchange inventories edging up 0.6%, indicating stable supply conditions. Renewed tensions in the Middle East also clouded the demand outlook for industrial commodities.
2026-07-14
Zinc Advances
Zinc futures rose past $3,600 per tonne, moving near a four-year high, amid tightening near-term supply while manufacturing data supported demand expectations. Manufacturing indicators from China, Europe, and the US indicated that industrial activity remained resilient despite elevated costs, raising prospects for steady zinc consumption. Recent disruptions across key producers have reinforced supply concerns, with Glencore’s Kazzinc smelter in Kazakhstan continuing to operate at reduced capacity following an explosion, while Nexa’s Cajamarquilla smelter in Peru is gradually restarting operations after a fire-related shutdown. A seismic event at Boliden’s Garpenberg mine earlier this year has also raised the possibility of prolonged lower output. Adding to this, inventories on the Shanghai Futures Exchange fell 2.2% from the previous week, highlighting tightening availability in the physical market.
2026-07-09
Zinc Holds Gain
Zinc futures hovered around $3,540 per tonne, holding the rebound from a seven-week low amid tight supply conditions. Glencore’s Kazzinc facility in Kazakhstan continues to operate at reduced rates after an explosion, while Nexa’s Cajamarquilla smelter in Peru is recovering from fire-related damage. Concerns also persist about extended production disruptions at Boliden’s Garpenberg mine after a seismic event earlier this year. These supply constraints come as the International Lead and Zinc Study Group forecasts a refined zinc deficit of 19,000 tonnes this year. At the same time, the US-Iran peace deal eased concerns over further disruptions to global economic activity and improved the outlook for industrial demand.
2026-06-29