Key Facts
- Nexa Resources rose 1.20% to US$12.60, while Buenaventura fell 2.54% to US$31.13 on Wednesday 7 October (RT).
- Peru’s zinc output fell 12% in January–July 2026 to 746,000 tonnes of fine metal in concentrate, according to Peru’s mining ministry data compiled by Shanghai Metals Market.
- China’s crude steel output fell 3.1% in January–August, which limits demand for galvanised steel, a main use of zinc (National Bureau of Statistics).
- We have no verified zinc price for the session, so Latin American miner shares serve as labelled proxies.
Today’s Focus
Zinc-linked shares split on Wednesday 7 October. Nexa Resources, a zinc miner with Peruvian and Brazilian operations, rose 1.20% to US$12.60. Buenaventura, a Peruvian precious-metals miner, fell 2.54%.
Zinc is used mainly to coat steel against rust, so Chinese steel output matters for demand. Supply is the Latin American story: Peru, the world’s second-largest zinc miner, produced 12% less in January–July than a year earlier.
Most mining shares fell on the day, so Nexa’s rise stands out.
What matters today. Zinc faces a supply squeeze from Peru and weaker demand from China. Nexa rose against a falling market.
01 The session in one read
Nexa Resources closed at US$12.60, up 1.20%. Buenaventura closed at US$31.13, down 2.54%.
We have no verified zinc price for the session, and do not state a daily change for the metal. RT has no zinc series, so the shares are labelled proxies.
Peru produced 746,000 tonnes of zinc, measured as fine metal in concentrate, in January–July 2026. That is 12% less than a year earlier, according to Peru’s mining statistics compiled by Shanghai Metals Market (SMM).
Falling Peruvian output should support prices, but weaker Chinese steel output limits the demand side. China’s crude steel output fell 3.7% in August from a year earlier.
The variable to watch is Peru’s next monthly output figure and any Chinese property or steel stimulus.
02 The board
Nexa Resources, the clearest listed zinc stock in Latin America through its Peruvian and Brazilian mines and smelters, rose 1.20% to US$12.60. Buenaventura, a Peruvian miner of gold, silver and base metals, fell 2.54% to US$31.13.
| Asset | Level | Change |
|---|---|---|
| Nexa Resources | US$12.60 | +1.20% |
| Buenaventura | US$31.13 | -2.54% |
Source: RT (shares), close of 2026-10-07. Peru output: Shanghai Metals Market.
Buenaventura’s fall came with weaker precious metals, as silver and gold funds fell. Nexa’s gain was not explained by company news that we could verify. Rio Times · Live Market Intelligence
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Latin America — Cross-Market Board
Instrument Last Change YoY Prev. High Low Volume
IBOV
204,302.33
-0.74%
+21.85%
205,835.29
168,310
167,142
—
IPSA
10,999.64
-1.47%
—
11,163.42
11,210
10,984
1,513,213,483
IPC MEX
64,460.91
-1.30%
+12.17%
65,312.46
66,121
65,405
108,886,187
MERVAL
2,824,123
-2.51%
+30.51%
3,022,485
3,042,365
2,991,150
—
COLCAP
2,534.92
-2.09%
—
9.04
9.05
9.02
4,133
BVL PERÚ
60,766.81
-1.71%
—
—
—
—
—
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
Peru’s zinc output is the main supply driver. Production fell 12% in January–July.
On the demand side, zinc’s main use is to coat steel, and China’s crude steel output fell 3.1% in January–August, according to the National Bureau of Statistics.
04 The Latin American read
Peru is the region’s zinc heavyweight; Mexico and Bolivia also mine it. Zinc is an important export and a source of tax income for these countries.
Falling Peruvian output is a risk for local mining regions and for export earnings.
05 The names to watch
Nexa Resources is the purest listed Latin American zinc play, with smelting capacity as well as mines. Its rise on a weak day suggests investors see the supply story.
Buenaventura’s fall reflects its mix of gold and silver, which fell on the day.
06 The outlook
Zinc’s path depends on whether Chinese demand recovers enough to absorb tighter Peruvian supply. Until then, expect choppy trading.
More falls in Peruvian output would deepen the supply story.
07 What to watch
- Peru’s monthly output: The next mining statistics bulletin will show whether the decline continues.
- Chinese steel and property data: Weak numbers would limit zinc’s demand.
- Nexa guidance: Volume and cost updates would move the share price.
- US dollar: A stronger dollar weighs on dollar-priced metals.
Background: Zinc Holds Near US$3,740 as Peru Output Falls 12% | Zinc, Oct 6.
Frequently Asked Questions
Why did Nexa rise on 7 October?
Nexa Resources rose 1.20% to US$12.60 while most mining shares fell. We could not verify company news behind the move.
Why is Peruvian output important for zinc?
Peru is among the world’s largest zinc miners, and its output fell 12% in January–July 2026, which tightens supply.
What is the best listed zinc stock in Latin America?
Nexa Resources, with mines and smelters in Peru and Brazil, is the clearest option.
Why does China matter for zinc?
Zinc is mainly used to coat steel against rust, so Chinese steel output affects demand.
Market data: RT; Peru output: Shanghai Metals Market; steel output: National Bureau of Statistics of China
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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