CORRECTED-GRAPHIC-Zinc supply cuts outstripped by demand destruction from coronavirus [Reuters]
Nexa Resources S.A. Common Shares (NEXA)
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Source: Reuters
Zinc supply cuts outstripped by demand destruction from coronavirus LONDON (Reuters) - Collapsing demand for zinc caused by the novel coronavirus will swamp supply cuts from major producers Peru and India this year and leave the market with a massive surplus that will weigh on prices of the material used to galvanise steel. The coronavirus, which has infected nearly 2 million people globally, has roiled global markets and hit demand from zinc-intensive industries such as construction and transport. This has pushed benchmark zinc prices down about 18% this year to around $1,920 per tonne. “With zinc you have a big demand problem and unless you see far more cuts in supply we are still expecting a healthy surplus this year,” said Colin Hamilton, analyst at BMO Capital Markets. Hamilton said zinc was currently at levels that would likely force more supply out of the market. Graphic - Zinc price: here BMO estimates global zinc demand will fall by about 6% this year compared to a roughly f
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News
- Nexa Resources (NYSE:NEXA) had its "sell (d+)" rating reaffirmed by analysts at <a style="font-weight:bold" href="https://weissratings.com/">Weiss Ratings</a>.MarketBeat
- Nexa Resources (NYSE:NEXA) had its "sell (d+)" rating reaffirmed by analysts at <a style="font-weight:bold" href="https://weissratings.com/">Weiss Ratings</a>.MarketBeat
- Nexa Resources (NYSE:NEXA) had its "sell (d+)" rating reaffirmed by analysts at <a style="font-weight:bold" href="https://weissratings.com/">Weiss Ratings</a>.MarketBeat
- Nexa Resources (NYSE:NEXA) had its price target raised by analysts at Scotiabank from $6.00 to $7.00. They now have a "sector perform" rating on the stock.MarketBeat
- Nexa Resources (NYSE:NEXA) Valuation Discount Persists as Losses Widen, Profitability Remains Years Away [Yahoo! Finance]Yahoo! Finance
NEXA
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- 10/30/25 - Beat
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Sec Filings
- 10/30/25 - Form 6-K
- 10/30/25 - Form 6-K
- 10/30/25 - Form 6-K
- NEXA's page on the SEC website