July 27 various brands of Zinc in Guangdong were promoted and pasted.

[Zinc Ingot Inventory Continues to Accumulate, Zinc Prices Weaken During the Day]: The most-traded SHFE zinc 2603 contract opened at 24,800 yuan/mt, touched a high of 24,815 yuan/mt early in the session, then fluctuated downward throughout, approaching a low of 24,390 yuan/mt near the close, and finally settled down at 24,395 yuan/mt, falling 375 yuan/mt, a decline of 1.51%.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 05 Feb , 2026

According to the release from Ivanhoe Mines on February 3, Ivanhoe Mines is engaged in in-depth discussions with Gécamines and Mercuria, planning to supply critical minerals from the ultra-high-grade Kipushi zinc-lead-germanium-gallium mine to the US. Under the proposed agreement, Mercuria's current offtake of Kipushi zinc concentrates will be allocated to the trading division of Gécamines, and the excess production resulting from the successful debottlenecking and expansion of Kipushi in Q4 2025 will also be allocated. The concentrates produced from the Kipushi mine also contain significant amounts of germanium and gallium. Gécamines has the potential to be responsible for the sales of up to 50% of the mine's concentrate production, including sales to the US.