Zinc Price Surpasses 26,500 Yuan/Ton; South China Trading Slows Amid High Prices

Australian copper-zinc miner 29Metals reported its financial results for the first half of 2026, ended June 30. Zinc production fell sharply to 3,200 tonnes, down approximately 89% from 29,300 tonnes in the same period last year, primarily due to the suspension of mining at the Xantho Extended orebody following seismic activity. The company is progressing development work at Xantho Extended and expects to resume mining during the December quarter of 2026. As one of Golden Grove’s highest-grade ore sources, the orebody is expected to support a recovery in metal production toward the end of the year.

[Tianjin Zinc: Zinc Prices Continue to Surge, Market Trading Inactive] In Tianjin market, mainstream traded prices for #0 zinc ingot were 26,280-26,640 yuan/mt, with Zijin traded at 26,460-26,740 yuan/mt, and #1 zinc ingot near 26,280-26,570 yuan/mt. Zijin was quoted at a premium of around 60 yuan/mt against the 2609 contract, Huzinc at 27,840 yuan/mt, and #0 zinc ingot at a discount of 40-120 yuan/mt against the 2609 contract. Tianjin market was at a discount of 50 yuan/mt against Shanghai market.

[Shanghai Zinc: SHFE Zinc Futures Prices Continue to Rise, Market Atmosphere Sluggish] Today, #0 zinc mainstream transaction prices were concentrated in the range of 26,395-26,695 yuan/mt, Shuangyan mainly traded at 26,545-26,835 yuan/mt, and #1 zinc mainly traded at 26,325-26,625 yuan/mt. In the morning session, cargoes with invoices dated next month were quoted at a premium of 30-50 yuan/mt against the SMM average price, yet no quotes against the futures contract...