Nexa Gains 3.7% as Peru Zinc Output Falls 12% | Zinc Report, Oct 2
Key Facts
- Zinc-linked shares split on Friday, October 2, 2026: Nexa Resources rose 3.73% to US$12.24 while Buenaventura fell 0.32% to US$31.39. We could not verify a closing price for the metal itself.
- Peru’s zinc concentrate output fell 12% year on year in January–July 2026 to 746,000 tonnes, including an 11.1% drop in July to 102,100 tonnes.
- Peru, Mexico and Bolivia are major zinc miners, so Peruvian supply data matter for global zinc.
- The 2025 global refined-zinc market was in a 33,000-tonne deficit while reported inventories fell to 739,000 tonnes, according to the International Lead and Zinc Study Group.
- Zinc’s main job is protecting steel from corrosion via galvanising so construction and infrastructure spending are the demand engine that matters most for prices.
- Nexa Resources and Buenaventura serve as LatAm zinc proxies with Nexa operating polymetallic mines in Peru and Brazil for direct mining and smelting exposure.
Today’s Focus
Zinc-linked shares diverged on Friday, October 2, 2026. Nexa Resources rose 3.73% to US$12.24, while Buenaventura fell 0.32% to US$31.39. Published zinc quotes for the day differed by about US$30 a tonne, so we do not give a closing price.
The backdrop is a tug-of-war: Peru’s supply decline argues for tighter metal, but the demand side is unconfirmed.
Traders kept their eyes on Latin America, where Peru, Mexico and Bolivia are major zinc miners and any output wobble ripples through the market.
What matters today. The session shows zinc-linked equities pulling in different directions, with Peruvian output data the swing factor traders watch.
01 The session in one read
Zinc-linked miners ended Friday, October 2, 2026, with mixed results: Nexa Resources gained 3.73% and Buenaventura slipped 0.32%.
Peru’s production picture has darkened, a reminder that zinc answers to both mine supply and the purchasing managers who order galvanised steel for buildings, bridges and factories.
The supply data point to a tighter market, but the equity signals were mixed: Nexa Resources rose 3.73% and Buenaventura fell 0.32%. We could not verify a zinc closing price, so we make no claim about the metal’s direction. The variable to watch is Peru’s next monthly production report.
02 The board
Nexa Resources, the Brazilian-listed miner with polymetallic mines in Peru and Brazil, closed at US$12.24, a gain of 3.73% for the session.
Buenaventura, the Peruvian precious- and base-metals producer that acts as a broader zinc proxy, slipped 0.32% to US$31.39, showing how Friday’s zinc dip landed unevenly across the Latin American producer complex.
| Asset | Level | Change |
|---|---|---|
| Nexa Resources | US$12.24 | +3.73% |
| Buenaventura | US$31.39 | -0.32% |
Source: RT close, 2026-10-02. 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 | 192,114.55 | +2.63% | +21.85% | 187,197.46 | 168,310 | 167,142 | — |
| IPSA | 10,916.59 | +0.08% | — | 10,908.18 | 11,210 | 10,984 | 1,513,213,483 |
| IPC MEX | 63,712.24 | -0.18% | +12.17% | 63,828.60 | 66,121 | 65,405 | 108,886,187 |
| MERVAL | 2,767,663 | +0.32% | +30.51% | 3,022,485 | 3,042,365 | 2,991,150 | — |
| COLCAP | 2,515.02 | -0.59% | — | 9.04 | 9.05 | 9.02 | 4,133 |
| BVL PERÚ | 59,751.67 | +0.18% | — | — | — | — | — |
| 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
The raw numbers point to scarcity: the International Lead and Zinc Study Group says the global refined-zinc market ran a 33,000-tonne deficit in 2025 while reported inventories dropped to 739,000 tonnes.
Peru, the world’s second-biggest miner of the metal, produced 746,000 tonnes of zinc concentrate in January–July 2026, down 12% from a year earlier, with July alone off 11.1% at 102,100 tonnes.
Supply tightness only helps prices when galvanising demand is pulling, and construction demand is the open question.
04 The Latin American read
Peru, Mexico and Bolivia are the zinc heartland of the hemisphere.
Peru is the world’s second-largest zinc miner, so the Peruvian slowdown matters for global supply.
For foreign watchers, the regional story is straightforward: fewer Peruvian concentrates should, over time, tighten the raw-material pipe into smelters and traders across Asia and Europe.
05 The names to watch
Nexa Resources remains the purest Latin American zinc proxy because its mines and smelters feed both mining and smelting income, giving investors exposure to zinc prices and treatment charges in one equity.
Buenaventura’s 0.32% dip to US$31.39 shows that a diversified precious- and base-metals producer does not always follow zinc-linked peers.
06 The outlook
The market is waiting for construction numbers firm enough to validate rebuilding galvanised-steel inventories, because zinc’s role as a rust shield makes it a direct bet on concrete and steel demand.
If September construction or infrastructure data surprises to the upside, the combination of a 2025 deficit and Peru’s slowing output could give zinc and Nexa shares another leg higher.
07 What to watch
- Peruvian monthly production: The next concentrate report will show whether the 11.1% July decline was a blip or the start of a deeper supply loss.
- China construction data: Any acceleration in infrastructure or property completion would lift galvanised-steel demand and zinc prices.
- Nexa Resources share reaction: Nexa’s 3.73% jump on Friday may signal that some investors are positioning for a supply-driven rebound even as Buenaventura slipped.
- Global refined-zinc inventories: The 739,000-tonne stockpile level from 2025 is a key buffer; further draws would make the physical market visibly tight.
Why did zinc fall on Friday, October 2, 2026?
We could not verify a zinc closing price for Friday. Zinc-linked shares were mixed: Nexa Resources rose 3.73% and Buenaventura fell 0.32%, while Peru’s zinc output fell 12% in the first seven months of 2026.
Which Latin American countries matter for zinc?
Peru, Mexico and Bolivia are the main Latin American zinc miners.
What is zinc mainly used for?
Zinc is used chiefly to galvanise steel, protecting it from corrosion in buildings, bridges, vehicles and infrastructure.
How can investors track zinc through Latin American shares?
Nexa Resources offers direct zinc mining and smelting exposure across Peru and Brazil, while Buenaventura is a broader but still zinc-sensitive proxy.
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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