Zinc coverage.

Zinc is mostly used in galvanizing steel. The price often moves with LME warehouse inventories.

The setup.

When LME inventories drop below a threshold, zinc bids move up quickly. It is one of the more inventory-sensitive base metals.

The risk.

New supply lags demand signals. Junior zinc equity is a leveraged play on the LME inventory curve.

Our read.

We watch: LME zinc stocks, treatment charges, Chinese smelter utilization, and TSXV/CSE zinc-primary juniors.

Related research.

Plain-language research on small cap mining and resource companies on the TSXV and CSE.

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Bellmare Capital publishes research and commentary for informational purposes only. Nothing here is investment advice or a recommendation. Bellmare Capital is operated by Apollo Shareholder Relations, which provides paid investor relations services and may be compensated in cash or securities by companies discussed. See the full Disclaimer. © 2026 Bellmare Capital.

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