From The Rio Times · Diego Fernández · · 1m 10s
Zinc Miners Drop as Dollar Strengthens
Zinc miners fall 3.5% as dollar rises, Boliden deal pending approvals.
In brief
Zinc miners fall 3.5% as dollar rises, Boliden deal pending approvals. Nexa Resources dropped 3.51% to US$12.65 on Wednesday as the dollar rose, with Boliden's US$1.31 billion acquisition deal pending shareholder and regulatory approvals. Originally reported by The Rio Times.
Zinc Market Update
Zinc miners fell 3.51% to US$12.65 on Wednesday 14 October as the dollar rose and base metals weakened.
Buenaventura Declines
Peru’s Buenaventura dropped 3.11% to US$30.52, with the DBB base-metals fund falling 1.16% to US$24.75.
Boliden Deal Status
Boliden agreed in late August to buy Votorantim’s 64.68% stake in Nexa for US$1.31 billion, pending shareholder and regulatory approvals.
Dollar Index Rise
The dollar index rose 0.34% to 102.5 as US inflation of 3.7% beat the 3.6% forecast.
Zinc Price Uncertainty
Zinc futures price was unavailable for reliable confirmation on Wednesday 14 October.
Market Impact
Peru’s zinc production and Brazil’s smelters drive Nexa’s stock, which reacts to metals prices and the dollar.
Key Watchpoints
Boliden deal approvals, base metals trends, and Peru’s August trade data due Thursday 15 October.
What Matters Next
Nexa’s shares move with the Boliden deal and dollar strength, not zinc alone.
The essence
Nexa Resources dropped 3.51% to US$12.65 on Wednesday as the dollar rose, with Boliden's US$1.31 billion acquisition deal pending shareholder and regulatory approvals.
