- Expectations of further LME hikes push buyers to secure near-term cargoes
- Oxide prices gain on stronger demand from rubber, ceramics producers
India’s zinc scrap and dross prices moved up w-o-w on 26 February 2026, supported by sustained procurement from local processors and firm global cues. Strength on the London Metal Exchange (LME) lent support to import bookings, while domestic trading activity improved across key consumption centres.
BigMint assessed zinc diecast scrap (Middle East origin) at $2,670/tonne (t) CFR west coast India, up $30/t w-o-w on steady inquiry levels. Three-month LME zinc stood at $3,379/t, increasing $55/t from $3,324/t last week, supporting replacement costs for imported scrap.
Market participants noted that consistent buying interest from diecasters and recyclers kept import sentiment stable. Firm LME trends encouraged select buyers to secure near-term cargoes amid expectations of further cost push in the coming weeks.
In north India, big-sized Tukdi (97% Zn) was offered at around INR 259,000-260,000/t ex-Delhi, while mid-sized Tukdi (97-98% Zn) was quoted in the range of INR 254,000-255,000/t, supported by higher replacement costs.
Domestic zinc dross and oxide segment
Zinc dross prices rose INR 2,000/t w-o-w to INR 264,500/t ex-Delhi. In the west, prices strengthened to INR 260,000/t ex-works Mumbai, supported by continued demand from local processors.
Zinc oxide (99% Zn) prices increased by INR 1,900/t to INR 254,400/t ex-Delhi during the week.
A Gujarat-based oxide producer said order inflows from rubber and ceramics manufacturers improved during the week, prompting restocking of feedstock and supporting oxide price gains.
Outlook
Zinc scrap and dross prices are expected to remain firm in the near term, supported by stable processor demand and LME trends. Import cost dynamics and downstream sector procurement are likely to influence price direction in the coming week.
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