By The Rio Times | Created at 2026-10-09 01:26:50 | Updated at 2026-10-09 02:32:15
1 hour ago
Key Facts
- Nexa Resources closed at US$12.51, down 0.71%, and Buenaventura rose 0.96% to US$31.43 on Thursday 8 October (RT).
- We could not verify a zinc price for the session: sources gave different readings, so this wrap follows the two listed Latin American proxies.
- Peru’s zinc production fell 10.2% in the first half of 2026, to 643,913 tonnes from 716,684 tonnes a year earlier, according to the energy and mines ministry.
- Nexa guides 2026 consolidated zinc output about 6% higher, helped by Aripuanã in Brazil, expected at 45,000 to 60,000 tonnes, about 49% more; Cerro Lindo in Peru is guided down about 7%.
Today’s Focus
Zinc proxies split on Thursday 8 October. Nexa Resources, the Peru- and Brazil-focused miner and smelter, fell 0.71% to US$12.51. Buenaventura, a Peruvian gold, silver and base-metals producer, rose 0.96% to US$31.43.
We could not verify a price for the metal itself, because sources differed on the session’s level, so we report only what we can confirm.
Supply is the core story. Peru’s zinc output fell 10.2% in the first half of 2026, so one of the world’s main zinc-producing regions is making less metal.
What matters today. The market is watching whether Peru’s output slide deepens enough to offset Nexa’s planned growth in Brazil.
01 The session in one read
Latin America’s two main listed zinc-linked shares moved in opposite directions on Thursday. Nexa closed at US$12.51, down 0.71%. Buenaventura gained 0.96% to US$31.43.
The divergence hints that investors treat Buenaventura’s gold and silver exposure as a buffer against a softer zinc outlook. Gold funds rose on the day.
Assessment — Supply discipline versus demand doubts MEDIUM
The evidence points to a tug-of-war. Peru’s production is falling, which tightens supply, while Nexa is adding tonnes in Brazil. Share prices barely moved, so investors see no clear winner yet.
We cannot say from one session which side will prevail. The variable to watch is Peru’s third-quarter output data.
Follow this story
Get an email when there’s news on Markets
Free. One email a day at most, and only when there is news. This also signs you up to our weekday newsletter, The LatAm Brief. Nothing arrives until you click the confirmation link, and you can stop either with one click. Privacy policy.
02 The board
| Nexa Resources | US$12.51 | -0.71% |
| Buenaventura | US$31.43 | +0.96% |
Source: RT close, 2026-10-08. Where a commodity has no verified spot price, a leading producer is shown as a labelled proxy.
The RT calendar listed no China release for 8 October. Nexa is the most direct listed zinc play in the region, with mines and smelters in Peru and Brazil.
Live Market IntelligenceThe live market boardInside: market breadth, the sector heatmap, currencies & rates, the Latin America scoreboard and the full instrument board.
Rio Times · Live Market Intelligence
Latin America — Cross-Market Board
Regional
Oct 8, 2026 · 21:54
Ibovespa · benchmark
206,220.24 +0.94%
L 167,142day rangeH 168,310
+21.85% over 12 months
Market breadth · 5 names
60% advancing
3 ▲ advancing2 declining ▼
Currencies, rates & key inputs
Latin America scoreboard
IndexLastTodayStrength
IbovespaBrazil 206,220.24 +0.94%
S&P/BMV IPCMexico 64,851.89 +0.31%
S&P IPSAChile 11,024.22 +0.22%
S&P MERVALArgentina 2,832,472 +0.30%
MSCI COLCAPColombia 2,525.90 -0.36%
BVL S&P PerúPeru 60,766.81 -1.71%
Full instrument board
| IBOV | 206,220.24 | +0.94% | +21.85% | 204,302.33 | 168,310 | 167,142 | — |
| IPSA | 11,024.22 | +0.22% | — | 10,999.64 | 11,210 | 10,984 | 1,513,213,483 |
| IPC MEX | 64,851.89 | +0.31% | +12.17% | 64,653.33 | 66,121 | 65,405 | 108,886,187 |
| MERVAL | 2,832,472 | +0.30% | +30.51% | 3,022,485 | 3,042,365 | 2,991,150 | — |
| COLCAP | 2,525.90 | -0.36% | — | 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 | — |
Largest moves today
BVL PERÚ 60,766.81 -1.71%
USD/PYG 5,939 +1.68%
USD/DOP 58.34 +1.25%
USD/UYU 40.27 +1.24%
EUR/BRL 5.95 +1.01%
IBOV 206,220.24 +0.94%
USD/CRC 445.92 +0.89%
USD/BOB 11.64 -0.76%
The session read
The Ibovespa rose 0.94%, with breadth positive — 3 of 5 names higher. IPC MEX led, while BVL PERÚ lagged.
03 What moved it
The fundamental case for zinc rests on supply. Peru’s output fell to 643,913 tonnes in the first half of 2026 from 716,684 tonnes a year earlier, a drop of 10.2%, according to the ministry of energy and mines.
Offsetting that, Nexa has guided for about 6% growth in consolidated zinc output this year. Its Aripuanã mine in Brazil is expected to produce 45,000 to 60,000 tonnes, roughly 49% more, while Cerro Lindo in Peru is guided down about 7%.
04 The Latin American read
For Peru, falling zinc output is a tax-revenue problem and a warning sign for smaller miners. Mexico and Bolivia are also zinc producers, so any policy or logistical disruption there would tighten the market.
For Brazil, Nexa’s Aripuanã ramp-up is the region’s main growth story. If the mine reaches the high end of its guidance, it would blunt Peru’s decline and give smelters more feed.
05 The names to watch
Nexa Resources is the purest listed proxy for zinc in Latin America. Its operations include Cerro Lindo, El Porvenir and Atacocha in Peru, plus Vazante and Aripuanã in Brazil.
Buenaventura is less direct. Its zinc is a by-product of Peruvian polymetallic mines, and its share price follows gold and silver more than zinc.
06 The outlook
Zinc’s next move depends on whether Peru’s decline is confirmed by third-quarter data. If so, galvanised-steel buyers would face a thinner supply cushion even without a construction rebound.
07 What to watch
- Peru’s third-quarter output: A fall steeper than 10.2% would signal deeper mine exhaustion or permitting delays.
- Nexa’s Aripuanã ramp-up: Reaching the top of the 45,000 to 60,000 tonne range would soften the supply story.
- Galvanised steel demand: Construction and manufacturing orders show whether prices can hold without strong consumption.
- Gold and silver: Buenaventura’s share price follows the precious metals, which can mask zinc moves.
Frequently Asked Questions
How did zinc-linked shares move on 8 October 2026?
Nexa Resources fell 0.71% to US$12.51, while Buenaventura rose 0.96% to US$31.43, according to RT.
What is happening to zinc supply in Peru?
Peru’s zinc production fell 10.2% in the first half of 2026, to 643,913 tonnes from 716,684 tonnes, according to the energy and mines ministry.
What is Nexa’s zinc outlook?
Nexa guides 2026 consolidated zinc output about 6% higher, with Aripuanã in Brazil expected at 45,000 to 60,000 tonnes and Cerro Lindo in Peru down about 7%.
Why does zinc matter for Latin America?
Peru, Mexico and Bolivia are major zinc miners, so output changes there affect export income and tax revenue.
Market data: RT; Peru output: Ministerio de Energía y Minas (Minem); company guidance: Nexa Resources
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
LatAm Markets: Live Signals → — real-time movers, turnover leaders and FX across Latin America.
