[New Century Announces Q1 2026 Production] New Century released its Q1 2026 report, which showed zinc concentrates production of 24,000 mt, down 20% QoQ. The company produced 20,000 mt of available for sale zinc during the quarter, down 19% YoY, due to increased rainfall and planned maintenance shutdowns in Q1 2026.

[Nexa Releases Q1 2026 Production Results] Nexa released its Q1 2026 report. The company's zinc concentrates production totaled 79,400 mt in the quarter, down 13% QoQ, primarily reflecting reduced ore throughput at the Cerro Pasco complex and Cerro Lindo, with the latter affected by heavy rainfall during the quarter. Operations at Aripuanã and Vazante were in line with expectations.

[Pan American Silver Corp Announces Q1 2026 Production] Pan American Silver Corp announced unaudited Q1 2026 production data. The data showed that its zinc concentrates production in Q1 2026 was 15,200 mt, up 9% YoY.

[South 32 Releases Q1 2026 Production] South 32 released its Q1 2026 report, which showed that the company's zinc concentrates production was 9,100 mt in the quarter, down 13% QoQ, as the increase in ore throughput was offset by planned lower metal grades.

As of April 30, the most-traded SHFE zinc contract closed at 23,645 yuan/mt, up 165 yuan/mt for the month, a gain of 0.7%. Zinc prices rebounded from lows in April, touching a low of 23,430 yuan/mt at the beginning of the month and a high of 24,515 yuan/mt at month-end, though the overall price center pulled back. Heading into May, with the tight domestic ore supply situation persisting, how will zinc prices perform?

[Newmont Announced Q1 2026 Production] On April 23, Newmont released its Q1 2026 report, which showed that its zinc concentrates production was 62,000 mt in Q1, up 35% YoY, mainly due to improved grade at the Peñasquito mine. Its zinc concentrates production guidance for 2026 was 220,000 mt.

SMM Analysis: Maintenance Recovery & Falling Zinc TC Shape May Refined Lead Output Outlook SMM May 1 News: In April 2026, China's refined lead production continued its modest upward trend, rising 1.22% month-on-month and 3.01% year-on-year.

[Monthly Production Declined: Refined Zinc Faces Dual Pressure from Raw Material Supply and Costs] Overall, refined zinc production release in April and May fell short of expectations, mainly because as ex-China mine disruptions increased and China's ore recovery remained limited, TCs accelerated downward. Imported TCs have already dropped to $39.25/dmt, while China's weekly TCs broke below historical lows to 850 yuan/mt in metal content...

Mining and transportation group Grupo México reported that its Q1 profit surged 57% year over year, driven by higher silver and zinc sales.Grupo México, controlled by Mexican billionaire Larrea German, ranks among the world's largest copper producers by production.The group reported that Q1 2026 copper production reached 258,138 mt, down 2.8% year over year, mainly due to lower production at its Peruvian mines, partially offset by increased production at its Mexican and US mines In Q1 2026, silver and zinc production increased by 11.1% and 2.0%, respectively.

Teck Resources warned that rising diesel and freight costs could increase spending at its Chilean copper mining operations during Q2, as global supply tightened. The Canadian mining company said its Chilean operations relied on imported diesel and faced higher fuel and transportation costs due to supply disruptions related to the Strait of Hormuz, although no severe shortages were expected. "We expect freight costs to continue rising in Q2 2026, with explosives costs also increasing accordingly. We will continue to closely monitor developments, such as potential product export bans by major supplying countries, which could further disrupt the market," the company said. The warning highlighted broader supply chain pressures and the risk that government intervention could tighten metals markets, potentially prompting enterprises and strategic stockpiling of copper and zinc as demand strengthened. Alongside the cost warning, the company reported strong Q1 results that exceeded analyst expectations. This was primarily driven by higher copper prices, record sales, and increased production at its flagship mine, Quebrada Blanca (QB), in northern Chile. Production at the newly expanded mine grew 31.2% to 55,500 mt, compared with just 42,300 mt a year earlier when output was constrained by prolonged shutdowns. Despite a maintenance shutdown at the start of the year, performance remained on par with the previous quarter. Total copper production in Q1 reached 140,000 mt, compared with 106,100 mt in the same period last year. The company still plans to produce 455,000 to 530,000 mt in 2026 and 505,000 to 580,000 mt in 2027, while 2025 production is expected to be 453,500 mt, with the QB project expected to contribute 200,000 to 235,000 mt next year. Driven by growing power demand from data centers, artificial intelligence, and national defense, as well as expanding investment in power grid and electronic infrastructure, global copper demand is expected to surge 50% by 2040, benefiting Teck and its peers. Concentrates zinc production fell to 120,300 mt, a decrease of 17,000 mt from the same period last year. (Wenhua Consolidated)