Zinc Future Price Forecast for Next Week

Zinc Price Forecast for Next Week (29th June - 3rd July 2026)

LME Zinc futures ended the week lower as a stronger US dollar and expectations of higher US interest rates reduced the appeal of dollar-denominated commodities for overseas buyers. Losses were partly limited by progress in US-Iran peace talks, which eased concerns over global economic disruptions and improved the outlook for industrial metals demand. However, prices also found support from tightening global supply conditions. Glencore's Kazzinc facility in Kazakhstan continues to operate at reduced rates following an explosion, while Nexa's Cajamarquilla smelter in Peru is still recovering from fire-related damage. In addition, a seismic event at Boliden's Garpenberg mine has raised concerns over prolonged production disruptions. Reflecting the tight market, the International Lead and Zinc Study Group (ILZSG) forecasts a refined zinc deficit of 19,000 tonnes in 2026.

MCX Zinc Futures witnessed a weak start to the week as prices came under selling pressure, followed by a recovery in the latter half driven by short covering and value buying. Despite the rebound, Zinc closed the week at 358.65, trading below the 20 DEMA at 361.80, while continuing to hold above the 50-100-200 DEMA, placed at 354.20, 340.25 and 320.00 respectively. This indicates that although short-term momentum remains under pressure, the broader medium-term trend is still constructive as long as prices sustain above the key support levels. Open Interest currently stands at around 2430 lots, suggesting relatively stable participation. On the technical indicator front, RSI has started to recover from lower levels and is placed near 48, indicating improving momentum after emerging from a weak phase.

Overall, the technical structure remains neutral to mildly bullish. We may expect a reversal from the recent lows as long as prices hold above the crucial support zone around 350. However, a decisive breakout above 362–364.50 could trigger fresh buying momentum, while a breakdown below 350 may revive selling pressure and lead to further downside.

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