Maintenance at China Zinc Smelters to Hurt Zinc Output in June, SMM Reports

MMG announced on September 7 that its Dugald River subsidiary had signed a zinc concentrate sales agreement with Minmetals North-Europe. Under the agreement, approximately 20,000 dry metric tonnes will be sold annually in both 2027 and 2028, with a transaction cap of $50 million per year. Pricing will be based on LME Special High Grade zinc and LBMA silver prices less treatment charges, with delivery on a CIF basis. Located in Queensland, Australia, Dugald River is one of MMG’s core zinc assets, with its concentrates primarily sold to smelters in Asia and Australia. The agreement extends the Minmetals Group’s intra-group sales arrangements and secures a stable sales channel for part of Dugald River’s output over the next two years.

[China inventory declines; zinc prices fluctuate at highs] The most-traded SHFE zinc 2610 contract opened at 27,030 yuan/mt. After the open, zinc prices pulled back slightly to a low of 26,900 yuan/mt. Subsequently, bulls added positions, driving prices up to 27,245 yuan/mt. Then, a tug-of-war between longs and shorts kept zinc prices consolidating above the daily average, and the contract finally closed up at 27,095 yuan/mt, up 90 yuan/mt, or 0.33%.....

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 07 Sep , 2026