- LME zinc prices climb, lifting domestic sentiment
- Steady procurement supports zinc oxide prices
India’s zinc scrap and dross market witnessed an upward movement this week, with prices strengthening on sustained demand from local processors. BigMint assessed zinc diecast scrap (Middle East origin) at $2,395/tonne (t) CFR west coast India, up by $40/t w-o-w, amid steady inquiry levels.
Zinc dross was assessed at INR 242,000/t ex-Delhi, up by INR 9,000/t w-o-w, marking an all-time high since BigMint’s assessments began. In Mumbai, prices also firmed to INR 238,000/t ex-works, supported by ongoing demand from local processors.
At the time of reporting, London Metal Exchange (LME) zinc prices stood at $3,020/t, up by $88/t from $2,932/t last week.
According to traders, zinc oxide (99% Zn) prices rose by INR 4,000/t to INR 228,000/t ex-Delhi, as procurement from ceramics, rubber, and fertiliser sectors gained momentum.
In north India, big-sized zinc scrap (Tukdi, 97% Zn) was offered at around INR 244,000-245,000/t ex-Delhi, while mid-sized Tukdi (97-98% Zn) prices were INR 232,000-234,000/t. Actual buying interest for mid-sized Tukdi was mostly heard at INR 228,000-229,000/t, reflecting resistance to higher offers.
Tata Projects to auction zinc ash and dross
Tata Projects Limited will auction 40 t of zinc ash and 30 t of dross from its Nagpur facility on 13 October via mjunction. The sale will be conducted on an “as is where is” basis, requiring valid SPCB/CPCB licenses.
Outlook
Zinc scrap and dross prices are expected to remain supported in the near term, driven by firm consumption from local processors and steady procurement from end-user industries. However, cautious buying and resistance to elevated offers may cap sharp gains. LME price movements and global trade flows will continue to guide market direction in the coming weeks.
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