Monthly Zinc Market Report Dec 2025

Contents

1 Market Highlights 4
2 Economy and Policy 4
2.1 Guangxi unveils strategic five-year plan to boost mineral exploration 4
2.2 The Federal Reserve cut interest rates 4
3 Market Movements 4
3.1 Market Movements in China 4
3.1.1 Zinc ingot 4
3.1.2 Zinc concentrate 4
3.1.3 Imported zinc concentrate 50%min 5
3.1.4 Zinc die-casting alloy 5
3.1.Asian Metal Copyright2.Asian Metal Copyright5 Zinc oxide 99.7%min 5
3.1.6 Zinc powder 5
4 Company News 6
4.1 Luoyang Xinshu Mining ceases zinc concentrate operation 6
4.2 Inner Mongolia Dongshengmiao Mining reduces zinc concentrate output 6
4.3 Sichuan Hongda cuts zinc die-casting alloy output 6
4.4 Inner Mongolia identifies proven reserves of 152 minerals to date 6
4.5 Nanjing Yinmao Lead and Zinc Mining to restart zinc concentrate production 6
4.6 Masteel completes hot-commissioning of new galvanizing line 6
4.7 Sinomine's Tsumeb smelter begins phase I operations 6
4.8 Xinjiang Chixing to build 50ktpa zinc ingot project 7
4.9 Hunan Baoshan Nonferrous Metal Mining recovers zinc concentrate operation 7
4.10 Shenzhen Zhongjin Lingnan Nonfemet Danxia Smelter reduces zinc ingot production 7
4.11 Yunnan Yuntong Zinc Industry reduces zinc ingot output 7
4.12 Tibet Yujin Mining to cut zinc concentrate production 7
4.13 Kayzee Products and Minerals raises zinc ore production 7
4.14 NSP Associates to decrease zinc ore output 8
4.15 Spatial Mines to resume zinc ore operation 8
4.16 UK Africa Trading to enhance zinc concentrate output 8
4.17 Izuchukwu General Merchant enhances zinc ore production 8
4.18 Awa Holdings boosts zinc ore output 8
4.19 Thai Singha Thong reduces zinc ingot and zinc die-casting alloy output 8
4.20 Weifang Orlon Zinc Industry reduces zinc oxide output 8
4.21 Anhui Jiuhua New Material cuts zinc ingot output 8
4.22 MCC to divest copper-zinc and other non-core assets 9
4.23 Baoshan Mining resumes production at lead-zinc-silver mine 9
4.24 Yangzhou Huali Zinc Industry increases zinc oxide production 9
4.25 Arab to decrease zinc concentrate production 9
4.26 Xinjiang Huoshaoyun lead-zinc smelting project fully commissioned 9
4.27 BSV Group boosts zinc ingot production 9
4.28 FSRS raises zinc ingot output 9
4.29 The 3 Rocks raises zinc ore production 10
4.30 Guangdong Found Mining boosts zinc concentrate output 10
4.31 Sinomine's Tsumeb smelter begins phase I operations 10
4.32 Xinjiang Chixing to build 50ktpa zinc ingot project 10
4.33 Hunan Baoshan Nonferrous Metal Mining recovers zinc concentrate operation 10
5 Producers Metrics 10
5.1 Zinc ingot 10
5.1.Asian Metal Copyright1.Asian Metal Copyright1 China's refined zinc producers' operating rate down by 2.88% MoM in Dec 10
5.1.Asian Metal Copyright99% export volume rose 27.Asian Metal Copyright2 China's refined zinc producers' output down by 3.94% MoM in Dec 11
5.1.Asian Metal Copyright23% MoM in late this month 11 5.Asian Metal Copyright3 China's refined zinc producers' stocks up by 54.23% MoM in late this month 11
5.2 Zinc die-casting alloy 11
5.2.Asian Metal Copyright5 Nanjing Yinmao Lead and Zinc Mining to restart zinc concentrate production 6 4.Asian Metal Copyright1 China's zinc die-casting alloy producers' operating rate up by 0.93% MoM in Dec 11
5.2.Asian Metal Copyright995% import volume decreased 48.Asian Metal Copyright2 China's zinc die-casting alloy producers' output down by 2.07% MoM in Dec 11
5.2.Asian Metal Copyright27% MoM in Nov 2025 16 6.Asian Metal Copyright3 China's zinc die-casting alloy producers' stocks down by 23.77% MoM in late this month 11
5.3 Zinc oxide 12
5.3.Asian Metal Copyright23% MoM in late this month 11 5.Asian Metal Copyright1 China's zinc oxide producers' operating rate down by 2.54% MoM in Dec 12
5.3.Asian Metal Copyright1 Zinc ingot 4 3.Asian Metal Copyright2 China's zinc oxide producers' output down by 2.53% YoY in Dec 12
5.3.Asian Metal Copyright12 Tibet Yujin Mining to cut zinc concentrate production 7 4.Asian Metal Copyright3 China's zinc oxide producers' stocks up by 11.97% MoM in late this month 12
5.4 Zinc powder 12
5.4.Asian Metal Copyright93% MoM in Dec 11 5.Asian Metal Copyright1 China's zinc powder producers' operating rate up by 0.26% MoM in Dec 12
5.4.Asian Metal Copyright33 Hunan Baoshan Nonferrous Metal Mining recovers zinc concentrate operation 10 5 Producers Metrics 10 5.Asian Metal Copyright2 China's zinc powder producers' output up by 11.25% MoM in Dec 12
5.4.Asian Metal Copyright2 China's zinc die-casting alloy producers' output down by 2.Asian Metal Copyright3 China's zinc powder producers' stocks up by 21.21% MoM in late this month 13
6 Trade Data 13
6.1 China's refined zinc (Zn≥99.Asian Metal Copyright19 Thai Singha Thong reduces zinc ingot and zinc die-casting alloy output 8 4.Asian Metal Copyright995%) import volume fell 59.01% YoY in Nov 2025 13
6.2 China's refined zinc (Zn≥99.Asian Metal Copyright5 Zinc oxide 99.Asian Metal Copyright995%) export volume increased 8,496.19% YoY in Nov 2025 13
6.3 China's refined zinc (99.Asian Metal Copyright25 Arab to decrease zinc concentrate production 9 4.Asian Metal Copyright99%≤Zn＜99.Asian Metal Copyright18 Awa Holdings boosts zinc ore output 8 4.Asian Metal Copyright995%) import volume decreased 48.94% YoY in Nov 2025 14
6.4 South Korea's refined zinc (Zn≥99.Asian Metal Copyright23% MoM in late this month 11 5.Asian Metal Copyright99%) export volume increased 53.08% YoY in Jul 2025 14
6.5 India's refined zinc (Zn≥99.Asian Metal Copyright3 Zinc oxide 12 5.Asian Metal Copyright99%) export volume rose 27.09% MoM in Sep 2025 15
6.6 India's refined zinc (Zn≥99.Asian Metal Copyright1.Asian Metal Copyright99%) import volume increased 54.96% YoY in Sep 2025 16
6.7 China's zinc concentrate import volume increased 52.27% MoM in Nov 2025 16
6.8 South Africa's zinc concentrate export volume grew 50,684.63% MoM in Aug 2025 17
6.9 Peru's zinc concentrate export volume rose 31.09% YoY in Aug 2025 17
6.10 Australia's zinc concentrate export volume increased 114.87% MoM in Aug 2025 18


.Asian Metal Copyright5 Zinc oxide 99Asian Metal Copyright