Japanese Zinc Ingots (PWG) in Bhiwandi

LME, SHFE, and MCX zinc prices surged amid tightening global supply. The ILZSG revised forecasts, predicting a 164,000-ton deficit in 2024 due to production cuts, especially in Europe and China, driving continued market bullishness.

Zinc prices went up across LME, SHFE, and MCX, driven by global supply constraints and China's economic stimulus measures. LME zinc increased by 2.19%, SHFE by 2.14%, and MCX by 2.28%. Positive macro sentiment, especially US inflation data, also contributed to the bullish momentum, with expectations of high-level fluctuations.

Zinc prices have declined across LME, SHFE, and MCX markets due to economic concerns and reduced demand. Supply deficits are anticipated in 2024, driven by lower production in Europe and China, while market sentiment remains cautious following the US Fed meeting.

LME zinc fell by 2.47% to $2,867/ton, SHFE zinc dropped 1.29% to 23,700 yuan/ton, and MCX zinc decreased 1.50% to ₹265.50/kg. Weak demand, Fed rate cuts, and potential US port strikes could further pressure zinc prices downward.

Zinc prices saw notable gains today, with LME increasing 1.92%, SHFE up 0.63% and MCX rising 1.31%. Prices increased due to improved macroeconomic sentiment and bullish trading patterns driven by the US Fed's rate cut.

Zinc prices fell across global markets, with LME zinc dropping by 1.37% to $2,884/ton, while SHFE showed a small increase of 0.42%. MCX Zinc fell by Rs 0.95 to Rs 266.55/kg. The US Fed’s 50 basis point rate cut raised economic concerns, while Hindustan Zinc revisited its restructuring plan to split into two verticals.

Zinc prices dipped on LME and MCX as supply concerns grow, with LME inventories increasing by 5.53%. Meanwhile, India's zinc demand is expected to double in the next decade, driven by energy, infrastructure, and steel sectors. In another development, Hindustan Zinc has announced a $2.5 billion expansion plan, set to start in FY26.

Zinc prices have risen, with LME increasing 1.07% and MCX up 0.78%, driven by improved market sentiment and tight supply conditions. Delays in smelter expansions and increased production costs are contributing to a tighter market. In addition, optimistic expectations for economic support in China and a narrowing global zinc surplus are influencing the markets.

Zinc prices surged globally, with LME zinc closing up 2.43%, SHFE up 0.98%, and MCX zinc rising 1.99%, driven by US Fed rate cut hopes. Declining inventories and market optimism supported the price rise, despite reduced trading volume.