Zinc Future Price Forecast for Next Week

Zinc Price Forecast for Next Week (29th December 2025 - 2nd January 2026)

As of December 2025, the zinc market faces a “supply squeeze” in concentrates, contrasting with a projected surplus in refined metal for 2026. Key points include: a tight zinc concentrate market with historically low treatment charges, indicating oversupply in smelting capacity, and increased global mine output driven by new projects like Kipushi in DRC and the restart of major mines. Demand remains closely linked to the industrial cycle and is supported by government infrastructure efforts and the rise of zinc in green technologies. LME zinc prices have stabilized between $2,900 and $3,200 per tonne, while inventories, although volatile, remain lean compared to historical averages, heightening the risk of short-term price surges.

After an initial slow run, zinc price has accelerated its upward momentum like other base metals, gaining by +3.83% in the past week and settling on a bullish note at 312.85. Like copper, zinc price has surged by nearly +2.50% on Friday itself. Zinc continues to chart and remain in a rising channel, maintaining above all key moving averages, i.e., 5, 10, and 200-DEMA levels placed at 302, 293.20, and 282.90 respectively. Daily SAR is placed on the opposite side at 310.25.

Since the expiry is nearby, with the recent price rise, we can observe a significant OI shift in the January contract to 5,040 lots in the past week. The momentum indicator, RSI, remained around 60 on the daily and weekly charts. On MACD, we can observe a convergence alongside declining negative histograms, which suggests a bullish bias in zinc.

We are expecting a moderately bullish trend in the next week in zinc and traders may look for buy-on-dips opportunities.

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