Shares of Latin American mining firms Nexa Resources and Buenaventura retreated sharply on Friday, driven by growing concerns over weakening construction demand.
Nexa Resources, the Brazil-headquartered miner and smelter, fell 2.36% to US$12.85, while Buenaventura sank 4.96% to US$30.28.
London Metal Exchange benchmarks for zinc traded around US$3,529 per tonne, supported by persistent supply tightness that continues to counterbalance demand-side worries.
The sell-off underscores the vulnerability of regional miners to shifting sentiment in the industrial metals complex, even as underlying commodity prices remain resilient.
The equity pullback occurred despite zinc prices holding firm just below recent highs.
London Metal Exchange benchmarks for zinc traded around US$3,529 per tonne, supported by persistent supply tightness that continues to counterbalance demand-side worries.
This divergence highlights a growing disconnect between physical market fundamentals and equity valuations for producers exposed to the construction sector.