Zinc Future Price Forecast for Next Week

Zinc Price Forecast for Next Week (9th  Feb 2026 - 13rd Feb 2026)

Zinc futures closed the week on a positive note amidst zinc mine in southwest China suspended production in early February and is expected to resume in early March, leading to an estimated reduction of around 1,000 mt in zinc metal content of concentrates. Globally, factory activity showed signs of improvement last month, with stronger output among key Asian exporters and a rebound in the eurozone. Speculative sentiment also improved, with the latest Commitment of Traders report showing LME zinc net long positions rising by 1,122 lots to 41,415 lots. Despite near- term support, the global refined zinc market recorded a surplus of 76 kt over the first ten months of 2025. Global mine output rose 6.5% year-on-year in the same period, according to ILZSG, while zinc concentrate imports jumped 30% year-on-year to a record 5.33 million metric tons in 2025. LME zinc stocks have recovered from October's lows due to Chinese exports, though the pace of inventory rebuilding has recently slowed, signaling continued reliance on Chinese supply.

Zinc futures witnessed a sideways-to-bullish move after recent profit booking, recovering by +6.2% and closing the week at 325.80, holding firmly above all key moving averages. The contract continues to trade above its 20, 50, 100, and 200 DEMA, placed at 321.7, 315.65, 305.40, and 292, respectively, indicating sustained medium-to-long-term trend strength and healthy buying interest on dips. This alignment of moving averages reflects a structurally positive setup as long as prices remain above these dynamic supports. From an indicator perspective, momentum remains moderately positive, with the RSI hovering near the mid-50 zone, suggesting balanced conditions without any immediate overbought or oversold signals. The RSI behavior reflects consolidation with a bullish bias. The MACD remains stable near its signal line, indicating steady momentum and absence of any major trend reversal signals. Open Interest, after fluctuations, has settled at 3430, pointing towards position stability and selective accumulation rather than aggressive unwinding.

Overall, Zinc prices are expected to remain supportive and biased upward as long as the price holds above key moving averages, traders may look for buy-on-dips strategies near support zones while monitoring volume and price action for confirmation of further strength.

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