- LME zinc prices up, support domestic sentiment
- Firm procurement lifts 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 $2,415/tonne (t) CFR west coast India, up by $25/t w-o-w, amid steady inquiry levels.
Zinc dross was assessed at INR 249,400/t ex-Delhi, up by INR 3,400/t w-o-w. In Mumbai, prices also strengthened to INR 245,000/t ex-works, supported by ongoing demand from local processors.
At the time of reporting, London Metal Exchange (LME) zinc prices stood at $3,063/t, up by $16/t from $3,047/t last week.
Zinc oxide (99% Zn) prices rose by INR 1,200/t to INR 238,200/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 241,000-242,000/t ex-Delhi, while mid-sized Tukdi (97-98% Zn) held at INR 230,000-232,000/t. Actual buying interest for mid-sized Tukdi was mostly heard around INR 227,000/t, reflecting resistance to higher offers.
Tata Steel IBMD announces zinc ash, dross auctions
Tata Steel’s Industrial By-Products Management Division (IBMD) will conduct two auctions for zinc by-products in early December. On 5 December, 25 t of zinc dross (stock and arising) will be auctioned from the CG2 and BAF roadside location in Jamshedpur via Dynamic Sealbid. On 8 December, 38 t of zinc ash and 5 t of small zinc dross will be auctioned from the wire mill location under the English No Ties format.
Outlook
Zinc scrap and dross prices are expected to remain firm in the near term, supported by strong local demand and steady end-user procurement. However, buyers’ resistance to elevated offers could limit further upside. LME trends and domestic auction results will continue to influence market direction in the coming weeks.
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