India: HZL cuts zinc prices by INR 2,300/t, lead prices by INR 1,100/t

• HZL zinc prices remain above domestic spot market levels
• Trade activity remains largely need-based amid weak global cues

Hindustan Zinc Ltd (HZL) on 8 June 2026 reduced zinc ingot prices by INR 2,300/t ($27/t) and lead ingot prices by INR 1,100/t ($13/t) on 8 June compared with its previous revision announced on 4 June.

HZL’s benchmark Special High Grade (SHG) zinc ingot prices were reduced to INR 381,300/t ($4,451/t), while lead ingot prices declined to INR 227,700/t ($2,659/t).

Other revised zinc grades were:

Special High Grade-Continuous Galvanising Grade (SHG-CGG): INR 382,800/t ($4,003/t)
Special High Grade Jumbo (SHG-Jumbo): INR 381,800/t ($3,992/t)
High Grade (HG): INR 380,800/t ($3,982/t)
Prime Western (PW): INR 379,300/t ($3,966/t)

On the London Metal Exchange (LME), zinc prices were trading at $3,532/t, down 0.23%, while lead prices declined 0.35% to $1,995/t as of 12:45 PM IST.

Following the latest revision, HZL’s SHG zinc prices remained above domestic spot market levels. According to BigMint’s latest assessment on 6 June, spot zinc ingot prices stood at around INR 378,500/t ex-Delhi. Market participants indicated that procurement activity continued to be driven primarily by immediate requirements, with buyers maintaining a cautious stance amid fluctuating global prices and limited visibility on near-term demand.

The broader zinc market continues to receive support from tight supply fundamentals despite recent weakness in international prices. Zinc prices have come under pressure in recent sessions as a stronger US dollar and expectations of prolonged higher interest rates weighed on sentiment across industrial metals. However, supply-side disruptions at key global zinc operations and historically low exchange inventories remain supportive factors for prices.

Meanwhile, HZL recently reinforced its sustainability credentials by signing a Memorandum of Understanding (MoU) with The Energy and Resources Institute (TERI) to develop a 250-hectare ecological restoration project at its Chanderiya Lead Zinc Smelter Complex in Rajasthan. The initiative is expected to become one of the world’s largest green cover developments within an industrial premises and forms part of the company’s Sustainability Goal 2030, focused on biodiversity conservation, ecological restoration, and achieving a net positive environmental impact.

Overall, while global macroeconomic uncertainties continue to influence short-term price movements, the zinc market is expected to remain relatively tight due to constrained inventories and ongoing supply-side challenges, supporting medium-term market sentiment.