Zinc Future Price Forecast for Next Week (8th- 12th June 2026)| Choice

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Zinc Price Forecast for Next Week (8th- 12th June 2026)

Zinc Price Forecast for Next Week (1st- 5th June 2026)

LME Zinc prices ended the week lower as Nexa Resources gradually resumed production at its Cajamarquilla operations and reports of a preliminary peace agreement between the United States and Iran eased concerns over potential supply disruptions. Additional pressure came from rising inventories, with SHFE zinc stocks increasing by 1.019 tonnes during the week, reinforcing expectations of a comfortable global zinc supply surplus in 2026. However, downside was limited by ongoing supply tightness in the refined zinc market, as the recovery in mine output has only partially translated into higher refined metal availability. Market participants are also closely monitoring upcoming economic data, with both China and the United States set to release key PMI readings, including China's official NBS and manufacturing surveys, for fresh signals on industrial demand.

MCX Zinc Futures prices witnessed range-bound volatility during the week, trading within the 372- 363 range before settling at 364.70, above all major daily moving averages, with the 20-50-100- 200 DEMA placed at 359.01, 344.70, 330.54, and 312.25 respectively, indicating that the broader trend remains positive despite the recent consolidation. Market participation remained supportive, with Open Interest in the June contract increasing by around 700 lots, reflecting fresh positioning by traders. On the indicator front, RSI is placed near 62.53, while the RSI moving average stands at 72.80, indicating that momentum remains in bullish territory, although some cooling-off is visible after the recent overbought conditions. The Ol momentum indicator has also turned positive, supporting the ongoing consolidation within an established uptrend.

Overall, Zinc prices are likely to continue trading within the rising parallel channel in the near term. A decisive breakout above the upper band of the channel could trigger fresh upside momentum.