Zinc futures rose to $3,630 per tonne, the highest in nearly four years, as supply conditions tightened amid recent disruptions. Glencore’s Kazzinc facility in Kazakhstan has been operating at reduced capacity following a fatal explosion, while Nexa’s Cajamarquilla smelter in Peru was temporarily suspended due to fire-related damage, though it has recently announced a gradual resumption of production. These disruptions have heightened concerns about refined zinc availability, especially given already low inventory levels, with LME zinc stocks at 111,250 tonnes, equivalent to less than three days of global consumption. Mine closures and project delays have also added to supply-side strain. However, the supply outlook is expected to gradually improve later in the year, with the anticipated restart of Boliden’s Garpenberg mine in the second quarter, as well as Japan’s Mitsui Mining and Smelting plans to raise output by 3.2% in the first half of the 2026/27 financial year.

Octalas AI

Profit

Everyone's racing to cut costs. We're racing to create profit.

Start Selling through Service

Start Trial

Free for 14 days · No credit card required