- LME zinc prices move higher, support domestic sentiment
- Improved procurement boosts zinc oxide prices
The zinc scrap and dross market in India witnessed an upward movement this week, with prices strengthening on sustained demand from local processors. BigMint assessed zinc diecast scrap of Middle East origin at $2,530/tonne (t) CFR west coast, India, up by $65/t w-o-w, on steady inquiry levels.
Zinc dross prices moved higher across key markets. In north India, zinc dross was assessed at INR 254,600/t ex-Delhi, up by INR 4,600/t w-o-w. In the west, prices strengthened to INR 250,000/t ex-works Mumbai, supported by continued demand from local processors.
At the time of reporting, London Metal Exchange (LME) zinc prices stood at $3,151/t, up by $25/t from $3,126/t last week, lending support to domestic scrap and dross prices.
Zinc oxide (Zn 99%) prices also firmed up during the week. Prices rose by INR 1,300/t to INR 245,700/t ex-Delhi, as procurement from the ceramics, rubber, and fertiliser sectors gained momentum.
In north India, big-sized zinc scrap (Tukdi, Zn 97%) was offered at around INR 262,000-263,000/t ex-Delhi, while mid-sized Tukdi (Zn 97-98%) was quoted in the range of INR 252,000-253,000/t, supported by firm replacement costs.
Tata Steel zinc dross e-auction
Tata Steel’s Industrial By-Products Management Division (IBMD) will conduct an e-auction for 25 t of zinc dross (stock and arising) from Jamshedpur on 9 January on the mjunction platform. The auction will follow a dynamic seal-bid format with visible SBP, with 18% GST and 1% TCS applicable.
Outlook
Zinc scrap and dross prices are likely to remain firm in the near term, backed by sustained demand from local processors and supportive LME zinc prices. However, availability from upcoming auctions and volatility in global zinc prices will be key factors influencing market direction.
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