Zinc Slips as Nexa, Buenaventura Fall on August 13
Key Facts
- Zinc proxies slid on Thursday, August 13, 2026, with Nexa Resources closing down 1.65% at US$14.33 and Buenaventura off 2.69% at US$33.67.
- The move tracked a cooling in precious-metals sentiment, even as softer-than-expected U.S. wholesale price data failed to lift the broader metals complex.
- Nexa Resources, the Peru- and Brazil-focused zinc producer, bore the brunt of the session’s industrial-metal caution with a decline of US$0.24 per share.
- Buenaventura, the Peruvian precious and base metals miner, fell more sharply, losing US$0.93 per share as investors rotated away from diversified Andean miners.
- Galvanised-steel and construction demand, the core end-use for zinc, remained a background concern rather than a decisive mover in the session.
- No single zinc-specific supply disruption emerged from Peru, Bolivia or Mexico, leaving the day’s price action tied to broader commodity risk appetite.
Today’s Focus
Zinc-tracked equities retreated on Thursday, August 13, 2026, as Nexa Resources closed at US$14.33, a decline of 1.65%, while Buenaventura settled at US$33.67, down 2.69%.
The falls came despite softer-than-expected U.S. wholesale price data, which typically supports metals by easing inflation fears, but the complex took a cautious turn.
For Latin American zinc producers, the session underscored how base metals remain hostage to global cyclical sentiment, even when regional supply news is quiet.
What matters today. Zinc proxies fell with the broader metals complex, not because of any specific supply or demand shock in Peru, Bolivia or Mexico.
01 The session in one read
Zinc-tracked shares lost ground on Thursday, August 13, 2026, as investors trimmed exposure to Latin American miners. Nexa Resources, the most direct zinc proxy in the region, closed at US$14.33, down 1.65%.
Buenaventura, the Peruvian miner with zinc by-product exposure alongside precious metals, ended the day at US$33.67, a decline of 2.69%. The sharper drop in Buenaventura suggests the session hit diversified Andean names harder than pure-play base metal producers.
The 1.65% drop in Nexa Resources and the 2.69% fall in Buenaventura on Thursday, August 13, 2026, look like a day of profit-taking within a still-constructive base metals cycle, rather than the start of a deeper correction tied to zinc fundamentals. Investors should treat this as a pause driven by cross-asset risk reduction, with galvanised-steel and construction demand still intact but not strong enough to spark buying on a quiet news day. The variable to watch is whether U.S. rate expectations firm up further, because that would pressure both precious and base metal proxies in tandem.
02 The board
The two Latin American zinc proxies moved in the same direction but at different speeds. Nexa Resources shed US$0.24 to settle at US$14.33, while Buenaventura lost US$0.93 to finish at US$33.67.
The wider gap in Buenaventura’s percentage decline reflects its parallel sensitivity to the precious metals complex, which also softened on the day. The coordinated slide in both names points to a broad rotation out of metal equities rather than a zinc-specific event.
| Asset | Level | Change |
|---|---|---|
| Nexa Resources | US$14.33 | -1.65% |
| Buenaventura | US$33.67 | -2.69% |
Source: RT close, 2026-08-13. Where a commodity has no spot feed, an exchange-traded tracker or leading producer is shown as a labelled proxy.
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Latin America — Cross-Market Board
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 167,100.95 | -0.23% | +21.85% | 167,491.07 | 168,310 | 167,142 | — |
| IPSA | 11,000.07 | +0.16% | — | 10,982.72 | 11,210 | 10,984 | 1,513,213,483 |
| IPC MEX | 65,335.52 | -0.64% | +12.17% | 65,755.97 | 66,121 | 65,405 | 108,886,187 |
| MERVAL | 3,000,582 | +0.04% | +30.51% | 3,022,485 | 3,042,365 | 2,991,150 | — |
| COLCAP | 2,432.10 | +0.07% | — | 9.04 | 9.05 | 9.02 | 4,133 |
| BVL PERÚ | 58,814.75 | -1.21% | — | — | — | — | — |
| USD/BRL | 5.16 | +0.01% | -5.13% | 5.16 | 5.18 | 5.14 | — |
| EUR/BRL | 5.95 | +1.01% | -5.83% | 5.89 | 5.98 | 5.94 | — |
| USD/MXN | 17.06 | -0.24% | -8.58% | 17.10 | 17.08 | 17.01 | — |
| USD/CLP | 913.98 | +0.04% | -5.67% | 913.65 | 915.11 | 906.68 | — |
| USD/COP | 3,140 | +0.03% | -22.04% | 3,139 | 3,141 | 3,105 | — |
| USD/PEN | 3.36 | -0.66% | -4.82% | 3.38 | 3.38 | 3.35 | — |
| USD/ARS | 1,493 | +0.10% | +12.96% | 1,491 | 1,494 | 1,480 | — |
| USD/UYU | 40.27 | +1.24% | +1.80% | 39.77 | 40.27 | 40.23 | — |
| USD/PYG | 5,939 | +1.68% | -19.54% | 5,841 | 5,939 | 5,925 | — |
| USD/BOB | 11.64 | -0.76% | +72.04% | 11.73 | 11.72 | 11.64 | — |
| USD/DOP | 58.34 | +1.25% | -3.44% | 57.62 | 58.34 | 58.04 | — |
| USD/CRC | 445.92 | +0.89% | -9.71% | 441.97 | 448.50 | 445.92 | — |
03 What moved it
Softer-than-expected U.S. wholesale price data failed to lift the metals complex on Thursday, August 13, 2026. The producer price report, which can support metals by cooling rate-hike fears, was not enough to overcome the session’s cautious mood.
With gold also falling despite the tame inflation read, the signal for zinc was clear: macro traders were not treating the data as a reason to add industrial commodity exposure. That left zinc proxies vulnerable to a modest sell-off.
04 The Latin American read
For Peru, Bolivia and Mexico, the three major Latin American zinc producers, Thursday’s price action offered no distress signal. The decline in Nexa and Buenaventura tracked global commodity sentiment rather than any regional supply interruption.
Galvanised-steel demand, the main end-use for zinc in construction and infrastructure, remained a steady but unspectacular driver. Investors in Latin American zinc names are watching global rate expectations more closely than local mine output this week.
05 The names to watch
Nexa Resources remains the region’s cleanest zinc play, with mines and smelters in Peru and Brazil, and its 1.65% fall to US$14.33 reflects investors’ reluctance to add base metal risk. The company’s exposure to galvanised steel keeps it tied to construction cycles in both South American and global markets.
Buenaventura, despite being better known for gold and silver, carries meaningful zinc production from its Peruvian operations, so its 2.69% drop to US$33.67 shows how base metal softness can amplify moves in diversified miners.
06 The outlook
The near-term path for zinc-tracked equities depends on whether U.S. rate expectations stabilise after the wholesale price data. A continuation of softer inflation prints could eventually support industrial metals, but Thursday’s session showed no rush to buy the dip.
For Latin American producers, the key is whether galvanised-steel and construction demand holds up into the fourth quarter. Until that becomes clearer, zinc proxies are likely to trade in step with the broader commodity complex.
07 What to watch
- U.S. rate expectations: The direction of real yields will determine whether zinc proxies can recover from Thursday’s dip or face further pressure.
- Galvanised-steel demand: Construction and infrastructure orders are the core end-use for zinc, and any softening would hit regional miners directly.
- Peruvian mine supply: Any disruption from Peru, a major zinc producer, would quickly change the supply picture for Nexa and Buenaventura.
- Chinese construction data: China remains the world’s largest zinc consumer, so any rebound or slowdown in its property sector moves the global market.
Frequently Asked Questions
Why did zinc proxies fall on August 13, 2026?
Nexa Resources and Buenaventura declined with the broader metals complex, despite softer-than-expected U.S. wholesale price data, as investors took a cautious stance.
How much did Nexa Resources fall?
Nexa Resources closed at US$14.33 on Thursday, August 13, 2026, down 1.65% from the previous session.
How much did Buenaventura fall?
Buenaventura settled at US$33.67, a decline of 2.69% on the day, reflecting its exposure to both precious and base metals.
Was there a zinc supply disruption in Latin America?
No specific supply disruption emerged from Peru, Bolivia or Mexico during the session, leaving the move tied to global risk sentiment.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error
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