[SMM Zinc Morning Meeting Summary: LME Zinc Inventory Continues to Decline, LME Zinc Rises Significantly]: Overnight, LME zinc opened at $3,662/mt, and after opening it rose all the way, touching a low of $3,655.5/mt in early trading and a high of $3,748/mt near the close, finally ending up at $3,745.5/mt, up $84.5/mt, an increase of 2.31%, with trading volume rising to 13,736 lots···

[Ningbo Zinc: Zinc Futures Prices Rise Again, Traders Quote Casually] The transaction price of mainstream 0# zinc in the Ningbo market was around 25,135-25,320 yuan/mt. Ningbo conventional brands quoted a premium of 20 yuan/mt against the 2609 contract and a premium of 30 yuan/mt against Shanghai spot zinc. In Ningbo, mainstream quotes were against the 2609 contract..

[Guangdong: Zinc Prices Rise, Trading Sluggish] Guangdong 0# zinc traded at 25,035-25,220 yuan/mt, with mainstream brands quoted discounts of 80-60 yuan/mt against the 2609 contract and a discount of 70 yuan/mt against Shanghai spot cargo. Shanghai-Guangdong price spread maintained...

[Tianjin Zinc: High Zinc Prices Unbearable for Downstream] In the Tianjin market, mainstream transactions of #0 zinc ingot were at 24,980-25,300 yuan/mt, Zijin transactions were at 25,080-25,360 yuan/mt, #1 zinc ingot transactions were around 24,980-25,220 yuan/mt, Zijin was quoted around a discount of 20 yuan/mt to a premium of 30 yuan/mt against the 2609 contract, Huxin was quoted at 26,480 yuan/mt, #0 zinc ingot was quoted at a discount of 30-120 yuan/mt against the 2609 contract, and the Tianjin market was quoted at a discount of around 110 yuan/mt against Shanghai.

Fresnillo reported revenue of $3.38 billion for the six months ended June 30, 2026, up 74.7% year on year. Its average realised by-product lead price was $0.87/lb, down 2.3% year on year, while the average realised by-product zinc price rose 27% to $1.55/lb. Attributable by-product lead production increased 8.8% year on year, supported by higher ore grades at Fresnillo and Juanicipio and partly offset by lower grades at Saucito. Attributable by-product zinc production was broadly stable. The company maintained its 2026 guidance for attributable lead production of 54,000–59,000 t and attributable zinc production of 85,000–95,000 t. Attributable silver output in H1 was 22 million oz, down 11.4% year on year, while attributable gold output fell 7.3% to 290,900 oz.

[SMM Zinc Morning Meeting Minutes: LME Zinc Ingot Inventory Continues to Decline, Bulls Increase Positions Boosting LME Zinc Rise]: Overnight, LME zinc opened at $3,642/mt, and after opening, drifted higher, dipping to a low of $3,635/mt at the beginning of the session and touching a high of $3,684.5/mt near the end, finally closing up at $3,661/mt, up $27/mt, or 0.74%, with trading volume decreasing to 11,194 lots...

[SMM Zinc Morning Comment: SHFE Zinc Continues to Consolidate at Highs; Focus on Subsequent Export Performance] Overnight, the most-traded SHFE zinc 2609 contract opened at 25,110 yuan/mt. After opening, SHFE zinc fluctuated higher, reaching a high of 25,270 yuan/mt, then maintained a fluctuating trend above the daily average. Nearing the end of trading, SHFE zinc dipped slightly, dipping to a low of 25,100 yuan/mt at the end. It finally closed up at 25,165 yuan/mt, up 90 yuan/mt, or 0.36%..

[Guangdong: Trader Offers Remain Firm, Spot Premiums Edge Up] Guangdong mainstream 0# zinc traded at 25,010-25,050 yuan/mt, mainstream brands quoted at a discount of 120-60 yuan/mt against the 2609 contract, and a discount of 70 yuan/mt against spot Shanghai, with the Shanghai-Guangdong price spread remaining...

[SMM Zinc Morning Comment: Insufficient Fundamental Support Led to Noticeable Pullback from Highs in Night Session SHFE Zinc] Overnight, the most-traded SHFE zinc 2609 contract opened at 25,250 yuan/mt, hitting a high of 25,250 yuan/mt before rapidly consolidating and pulling back. It touched a low of 24,780 yuan/mt during the session, then rebounded slightly from the low, ultimately closing down at 24,920 yuan/mt, a decline of 460 yuan/mt..

[SMM Zinc Morning Meeting Minutes: Nearby Month Squeeze Bulls Continue to Push Up Zinc Prices, LME Zinc Hits Four-Year High]: Overnight, LME zinc opened at $3,645.5/mt, initially fell and then rose, hitting a high of $3,703.5/mt during the session, then continuously pulled back from the high, and near the end of the session dipped to a low of $3,618/mt, finally closing down at $3,634/mt, losing $6/mt, or 0.16%. Trading volume increased by 4,655 lots to 18,193 lots···