Explore the base metals outlook 2026 and learn how market trends are impacting copper, tin, and other metals this year.

Global zinc fundamentals remained tight in 2025, supported by low London Metal Exchange warehouse stocks and a concentrate supply that has increased but remains insufficient to ease market conditions. Market balance depends largely on how Chinese smelters manage their operating rates, Rodrigo Cammarosano, head of investor relations and treasury at Nexa Resources, said in an exclusive interview on Thursday November 27.

Fastmarkets’ pricing database has been updated. The publication of the affected price was delayed for 1 hour and 43 minutes. The following assessment was published late: MB-ZN-0099 Zinc SHG min 99.995% ingot premium, dp fca Antwerp, $/tonne This price is a part of the Fastmarkets base metals package. For more information or to provide feedback on […]

Explore how China’s 15th Five-Year Plan drives base metals demand in advanced manufacturing and renewable energy.

ACG Metals expects to begin to produce copper and zinc concentrates in mid-2026, marking a shift from gold toward base metals, as part of its plan to build a mid-tier copper company, according to its founder, chairman and chief executive officer.

Teck Resources exceeded expectations for Red Dog zinc concentrates shipments from Alaska amid trade challenges with China, while the company projected steady output for 2025 before gradual declines as the mine nears the end of its life.

Treatment charges (TCs) for zinc concentrates shipped into China increased in the two weeks to Friday October 10, with deteriorating import arbitrage conditions driving smelters to push for another increase in the processing fees, sources told Fastmarkets.

LME Week 2025 arrives amid supply disruptions, evolving carbon policies and tariff tensions that continue to reshape the copper, aluminium and zinc markets.

After a consultation period, Fastmarkets will clarify and amend some of the specifications for MB-ZN-0005 Zinc SHG min 99.995% ingot premium, ddp Midwest US, US cents/lb; MB-PB-0006 Lead 99.97% ingot premium, ddp Midwest US, US cents/lb; MB-SN-0011 Tin grade A min 99.85% ingot premium, ddp Midwest US, $/tonne; MB-NI-0240 Nickel 4x4 cathode premium, delivered Midwest US, US cents/lb; MB-NI-0241 Nickel briquette premium, delivered Midwest US, US cents/lb; and the corresponding all-in prices for all of these, including the quality, unit and location.

LME zinc stocks have fallen to their lowest levels since April 2023 but traders suggest the withdrawals are driven more by warehouse activity and speculation than genuine demand. Meanwhile, Europe’s sluggish consumption contrasts with swelling inventories in China.