- Uptick in LME supports domestic prices
- Zinc oxide inches up on improved demand
India’s zinc dross and zinc oxide markets remained largely stable w-o-w as of 1 April 2026, supported by stronger global cues. Benchmark three-month London Metal Exchange (LME) prices rose by $135/t w-o-w to $3,227/t, providing cost-side support to domestic secondary zinc products. However, buying activity remained cautious, limiting sharper price gains.
Zinc dross, oxide price movements
Domestic zinc dross prices held steady at INR 267,000/t ex-Delhi, while western India levels were slightly lower at around INR 264,000/t ex-works Mumbai. In contrast, zinc oxide (99% Zn) prices increased by INR 2,000/t w-o-w to INR 258,200/t ex-Delhi, reflecting improved demand from downstream consumers.
Market participants noted that despite firming global benchmarks, domestic buyers refrained from aggressive procurement. A north India-based trader said that most consumers are continuing with hand-to-mouth purchasing, avoiding inventory build-up amid price uncertainty.
Scrap segment trends
In the north Indian zinc scrap market, large-sized Tukdi (97% Zn) was offered at INR 256,000-257,000/t ex-Delhi, while mid-sized Tukdi (97-98% Zn) was heard at INR 254,000-255,000/t. Prices in the scrap segment remained largely stable, though slight downward pressure was visible due to limited buying interest.
Outlook
In the near term, zinc dross and oxide prices are expected to remain firm, tracking LME trends. However, subdued domestic demand and cautious procurement strategies may cap any sharp upside.
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