China Galvanizers Scale back Production on Raw Material Shortages, SMM Reports

[SMM Morning Meeting Summary: LME Zinc Retreats after Rapid Rise, SHFE Zinc Maintains Fluctuating Trend] Last Friday, LME zinc opened at $3,889.5/mt. The futures drifted higher and hit a high of $3,955/mt, then quickly pulled back and hit a low of $3,859.5/mt, and finally closed at $3,879.5/mt, down $9/mt, or 0.23%. Trading volume increased to 20,691 lots, and open interest increased by 64 lots to 261,000 lots. Last Friday, the SHFE zinc 2610 contract opened at 26,240 yuan/mt, initially dipped to 26,145 yuan/mt, then rebounded amid consolidation to hit a high of 26,400 yuan/mt, and finally closed at 26,375 yuan/mt, down 110 yuan/mt, or 0.42%. Trading volume increased to 112,400 lots, and open interest decreased by 335 lots to 164,000 lots......

[SMM Zinc Morning Comment] Last Friday, the SHFE zinc 2610 contract opened at 26,240 yuan/mt. In early trading, it dipped to 26,145 yuan/mt, then consolidated and rebounded to touch a high of 26,400 yuan/mt, and finally closed at 26,375 yuan/mt, down 110 yuan/mt, or 0.42%. Trading volume increased to 112,400 lots, while open interest decreased by 335 lots to 164,000 lots.

Central Asia Metals (CAML) reported zinc-in-concentrate production of 9,094 tonnes at its Sasa mine in H1 2026, up 5% year on year, while lead-in-concentrate output increased 6% to 13,312 tonnes. The company said the operational improvement programme launched in H2 2025 had begun to deliver results. CAML maintained its 2026 production guidance of 18,000–20,000 tonnes of zinc in concentrate and 26,000–28,000 tonnes of lead in concentrate. Supported by higher production and metal prices, group revenue rose 46% year on year to $145.5 million, while EBITDA increased 89% to $75.5 million.