Nexa Gains 1.04% as Buenaventura Slips 0.9% | Zinc, Oct 19
Key Facts
- Nexa Resources rose 1.04% to US$12.65 on Monday 19 October, while Buenaventura fell 0.92% to US$30.14.
- Nexa is a zinc producer with operations in Latin America, and Buenaventura is a Peruvian miner of gold, silver and base metals, so the two shares are labelled proxies for zinc.
- Zinc protects steel from rust, which ties the metal to construction, cars and appliances.
- China’s economy grew 4.5% in the third quarter from a year earlier, ahead of the 4.4% forecast, and September retail sales rose 1.1% against 0.5% expected.
Today’s Focus
Zinc-linked shares moved in opposite directions on Monday 19 October. Nexa Resources rose 1.04% to US$12.65, while Buenaventura fell 0.92% to US$30.14.
Nexa is the closer zinc proxy, because zinc is its main product. Buenaventura mines several metals, so its shares also follow gold and silver.
China, a major user of zinc, reported third-quarter growth of 4.5%, above the 4.4% forecast. That is positive for steel and construction demand.
What matters today. A good day for the pure zinc producer and a weaker one for the mixed-metal miner means the zinc signal is modest.
01 The session in one read
Nexa Resources gained 1.04% and Buenaventura lost 0.92% on Monday. The split shows that the two shares answer to different metals.
Zinc itself is a quiet market for most investors. It follows steel and construction demand far more than headlines.
Nexa rose while Buenaventura fell, which fits a day when zinc-specific news was better than news for gold and silver. We have no verified zinc price for the day, so the call rests on the two shares and on Chinese data. The variable to watch is whether Nexa holds its gain.
02 The board
Nexa closed at US$12.65, up 1.04%, and Buenaventura at US$30.14, down 0.92%. Both are equity proxies, because we could not verify a zinc futures price for Monday’s session.
Mining shares also react to company news and the stock market as a whole. They therefore give only a rough read on the metal.
| Asset | Level | Change |
|---|---|---|
| Nexa Resources | US$12.65 | +1.04% |
| Buenaventura | US$30.14 | -0.92% |
Source: RT close, 2026-10-19. Where a commodity has no spot feed, an exchange-traded tracker or leading producer is shown as a labelled proxy.
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| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
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| IPC MEX | 68,969.69 | +0.06% | +12.17% | 68,929.72 | 66,121 | 65,405 | 108,886,187 |
| MERVAL | 3,017,221 | — | +30.51% | 3,022,485 | 3,042,365 | 2,991,150 | — |
| COLCAP | 2,521.34 | -1.75% | — | 9.04 | 9.05 | 9.02 | 4,133 |
| BVL PERÚ | 59,664.64 | +0.40% | — | — | — | — | — |
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| 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
Without a verified zinc price, the best evidence for demand comes from China, the world’s largest industrial economy. Its third-quarter growth was above forecast.
China’s economy grew 4.5% in the third quarter from a year earlier, against a forecast of 4.4% and 4.3% in the previous quarter. Compared with the previous quarter, the growth rate was 1.2%, against 1.1% expected.
September industrial production rose 5.5% from a year earlier, against a forecast of 5.4%, and retail sales rose 1.1%, against 0.5% expected. Unemployment came in at 5.2%, down from 5.3% in August.
04 The Latin American read
Nexa operates in Latin America, and Peru is home to Buenaventura. Mining is a large part of the Peruvian economy.
For Latin America, zinc is a steady earner rather than a headline metal. Prices follow global construction demand.
05 The names to watch
Nexa Resources is the clearest listed way to follow Latin American zinc. Its New York shares are priced in dollars.
Buenaventura is a Peruvian miner of gold and silver as well as zinc. Its shares fell on a day when Nexa rose.
06 The outlook
The next test is whether Chinese building and steel output keep pace with the better growth figures. Zinc usually follows steel demand with a short delay.
A verified zinc price for the session would sharpen the picture, and we will use one when it is available. Until then the two shares are the best signal we can verify.
07 What to watch
- Chinese steel output: Zinc demand follows galvanised steel, so output figures matter.
- Nexa: Watch whether the shares hold Monday’s 1.04% gain.
- Buenaventura: Gold and silver moves can drive the shares more than zinc.
- Chinese retail and property data: They show how strong construction demand really is.
Background: Nexa Gains 0.32% to US$12.52 as Buenaventura Falls 2.3%.
Background: Copper Fund Edges Up 0.13% as Freeport Slips 0.7%.
More: Latin America news in English, every day from The Rio Times.
Frequently Asked Questions
What happened to Nexa Resources on Monday 19 October?
Nexa’s New York shares rose 1.04% to US$12.65. Buenaventura fell 0.92% to US$30.14.
Why does zinc matter for construction?
Zinc coats steel to stop rust, so it is used in buildings, cars and appliances.
Is the Nexa share price the same as the zinc price?
No. Nexa’s shares also reflect its costs, mines and the stock market, so they are only a proxy.
Did China’s economy beat forecasts?
Yes. China’s economy grew 4.5% in the third quarter from a year earlier, against a forecast of 4.4%.
Market data: RT
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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