- Global zinc pricing in Q2’26 showed a firm upward bias across major regions, supported by tighter refined metal availability and steady industrial consumption.
- Feedstock dynamics remained influenced by mined zinc concentrate availability and smelter utilization rates, with constrained concentrate supply supporting higher treatment pressure across regions.
- Downstream demand from galvanization, construction steel coating, and alloy manufacturing stayed steady, with infrastructure activity providing baseline support.
Asia
In the second quarter of 2026, the monthly average zinc price in China was ~RMB 23.46/kg in April and ~RMB 24.34/kg in the subsequent month, showing an increase of ~3.8%. Meanwhile, the monthly average zinc price in India was ~INR 332.61/kg in April and ~INR 346.64/kg in the subsequent month, showing an increase of ~4.2% during the quarter. Price levels improved due to low availability of refined metal amid smelter maintenance schedule and limited supply of concentrates. Price levels were supported by stable export from Asian countries and galvanizing demand from infrastructure and construction sectors domestically.
Europe
The monthly average zinc price in Germany was ~EUR 2.96/kg in April and ~EUR 3.23/kg in the subsequent month, showing an increase of ~9.1% during Q2’26. Prices rose due to constrained smelter output and tighter refined metal availability across European markets. Import dependence from external suppliers remained high, while steady demand from construction and automotive galvanizing supported market tightness.
North America
In the second quarter of 2026, the monthly average zinc price in North America was ~USD 3,539.41/MT in April and ~USD 3,702.09/MT in the subsequent month, showing an increase of ~4.6%. Prices were higher owing to tight availability of refined metal and steady demand from galvanizing sectors. The production from smelters was moderate, while the steel consumption owing to infrastructure was strong.