Terramin Begins Development Work on Algeria’s $471M Tala Hamza Zinc-Lead project

[SMM Zinc Morning Comment] Overnight, the most-traded SHFE zinc 2605 contract opened higher with a gap at 23,920 yuan/mt. At the beginning of the session, SHFE zinc briefly touched a high of 23,970 yuan/mt before futures pulled back under pressure, hitting a low of 23,725 yuan/mt during the session. Towards the close, it rebounded slightly to maintain a fluctuating trend, ultimately closing up at 23,820 yuan/mt, up 90 yuan/mt or 0.38%. Trading volume increased to 53,312 lots, and open interest increased by 337 lots to 78,650 lots.

[SMM Morning Meeting Minutes: Strong Wait-and-See Sentiment in the Market, LME Zinc Center Moves Higher] Overnight, LME zinc recorded a bullish candlestick, with the upper Bollinger Bands rail exerting pressure from above and the 10/20-day moving averages providing support from below. The market adopted a wait-and-see attitude ahead of the deadline set by the US, the US dollar index declined, and the LME zinc center rose. Attention is on the upcoming US-Iran negotiations.

Hindustan Zinc Limited, the world’s largest integrated zinc producer, released its production figures for the fourth quarter and full year ending March 31, 2026. The company maintained consistent output across zinc, lead, and silver, sustaining operational momentum and reinforcing its standing as a top base metals producer. The data demonstrates continued efficiency and strong capacity utilization throughout the year. In Q4 FY 2025‑26, Hindustan Zinc achieved a record quarterly mined metal production of 315 kt, up 2 % year‑on‑year, while refined metal output also hit a new high of 282 kt. For the full year, mined metal production reached 1,114 kt, and refined zinc output totaled 851 kt, underscoring robust operational performance.