Zinc Future Price Forecast for Next Week

Zinc Price Forecast for Next Week (10th Aug - 14th Aug 2026)

LME Zinc futures gained around 2% over the week as concerns over tighter Chinese mine and smelter output supported prices. Production adjustments at a zinc mine in Southwest China are expected to reduce concentrate output by about 1,000 tonnes in August, while scheduled maintenance at a major Central Chinese smelter could cut refined production by 1,000-1,500 tonnes. Supply concerns were reinforced by weaker output from major producers. A weaker U.S. dollar further supported zinc prices, while large LME holdings by Trafigura provided an additional market signal. Meanwhile, LME consultations on faster brand listings and permanent metal tagging could improve warehouse transparency.

MCX Zinc prices continued their strong upward momentum for the third consecutive week, closing at 389.20 after sustaining a higher-high, higher-low structure. Prices remain firmly above all key moving averages, with the 20, 50, 100 and 200 DEMA placed at 379.40, 367.30, 351.80 and 328.85, respectively. The alignment of these moving averages continues to indicate a strong underlying trend, while the recent price action reflects sustained buying interest. From an indicator perspective, RSI stands at 66.70, close to its RSI average of 67.56, indicating strong positive momentum while approaching the overbought zone. The RSI structure remains supportive of the prevailing uptrend, although traders should remain cautious as momentum is relatively stretched at higher levels. Meanwhile, Open Interest declined to 2,750 lots despite the rise in prices, suggesting that the recent upside may have been supported by short covering rather than aggressive fresh long build-up.

Overall, MCX Zinc maintains a moderately bullish outlook, with the broader trend remaining positive as long as prices sustain above key moving-average supports. Traders may consider a buy-on-dips approach, while remaining cautious around support zones and monitoring momentum for signs of profit booking or consolidation.

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