Zinc Inventories Add Further in China Major Markets, SMM Reports

Swedish miner Boliden reported second-quarter adjusted operating profit of SEK2.87 billion, more than double the year-earlier level but below the market consensus of SEK3.26 billion and down from SEK4.43 billion in the first quarter. Higher metal prices and strong performances from the Somincor and Zinkgruvan mines supported earnings, but these gains were offset by disruption at the Garpenberg mine, smelter maintenance and a slower-than-expected ramp-up of the Odda zinc smelter expansion. Garpenberg had previously suspended operations following abnormal seismic activity and a rockfall, but production has resumed in unaffected areas and the damaged ore hoist has been repaired. Boliden maintained its guidance of 1.5 million tonnes of milled ore in 2026 and 2.3 million tonnes in 2027. Meanwhile, the Odda zinc smelter expansion continues to ramp up more slowly than planned due to issues with a new roaster. The company also lowered its 2026 milled-volume forecast for the Tara mine by 200,000 tonnes to 1.6 million tonnes. Inventory build-up during maintenance shutdowns and the slow Odda ramp-up contributed to a quarterly free cash outflow of SEK2.11 billion and higher net debt.

EDM Resources telah menerima persetujuan industri yang diamendemen dari Departemen Lingkungan dan Perubahan Iklim Nova Scotia untuk rencana dimulainya kembali tambang seng Scotia. Persetujuan ini mencakup revisi tata letak tambang, fasilitas pemrosesan, sistem pengelolaan batuan limbah dan tailing, serta mendukung studi kelayakan awal terbaru perusahaan. Berlokasi sekitar 60 km di timur laut Halifax, tambang Scotia yang pernah beroperasi ini menargetkan dimulainya kembali pada tahun 2027 dan diharapkan menjadi satu-satunya produsen seng primer di Nova Scotia. EDM Resources saat ini tengah mengajukan otorisasi Undang-Undang Perikanan federal, estimasi sumber daya mineral terbaru, pembiayaan proyek, serta diskusi dengan calon mitra pembelian konsentrat.

[SMM Komentar Pagi Zinc] Semalam, SHFE zinc mencetak candlestick bullish kecil, dengan moving average lima hari di bawah berubah menjadi support dan Bollinger Band tengah di atas membentuk resistance. Terdorong oleh LME semalam, titik tengah SHFE zinc sedikit naik. Gangguan di sisi tambang masih berlanjut, namun smelter......