Tianjin Zinc Prices Skyrocket, Posing Challenges for Downstream Industry

On September 2, the Shanghai Futures Exchange (SHFE) announced that it had approved Shanghai Yuqiang Supply Chain Management Co., Ltd. to adjust its designated warehouse capacity for copper, aluminum and zinc futures. At the storage site at No. 3501 Gonghe New Road, Shanghai, the company will cancel its copper and aluminum futures storage qualifications, while its approved zinc futures warehouse capacity will remain unchanged at 20,000 tonnes. At the site at No. 2222 Jichuan Road, Minhang District, Shanghai, its zinc futures storage qualification will be canceled, while approved capacity will be adjusted to 45,000 tonnes of copper and 5,000 tonnes of aluminum.

On September 2, Xingye Silver & Tin announced that an accident occurred at its wholly owned subsidiary Yinman Mining in West Ujimqin Banner, Inner Mongolia, at around 15:30 on July 26, 2026, resulting in one fatality and no injuries. Following the accident, Yinman Mining conducted comprehensive safety inspections and implemented corrective measures. Recently, the company received approval from the West Ujimqin Banner Emergency Management Bureau to resume operations at its ore-processing tailings system. The processing plant is scheduled to resume operations on September 3, 2026. Meanwhile, Yinman Mining is continuing corrective work at the mining area and aims to resume mining operations as soon as possible.

On September 2, Shengda Resources announced that its wholly owned subsidiary, Chifeng Jindu Mining Co., Ltd., had completed the consolidation of the mining rights for the Shidi Silver-Lead-Zinc Mine and the exploration rights for the Shidi Peripheral Lead-Zinc Polymetallic Mine. Jindu Mining has received the Real Estate Ownership Certificate (Mining Right) and Mining License issued by the Chifeng Municipal Natural Resources Bureau. Following the consolidation, the mining area increased from 4.4750 sq km to 5.2397 sq km. The change is not expected to have a material impact on the company's operating results in the short term, but is expected to increase mineable resources, extend the mine's service life and provide resource support for the company's long-term development.