Zinc Future Price Forecast for Next Week
- Published Date: March 23, 2026
- Updated Date: March 23, 2026
- By Team Choice
Zinc Price Forecast for Next Week (23rd - 27th March 2026)
Zinc futures prices experienced a decline of approximately 5.13% due to factors including rising inventories at the Shanghai Futures Exchange and LME warehouses, coupled with a robust US dollar, which negatively impacted market sentiment. Stocks at the Shanghai Futures Exchange surged by 9.2% over the week, while over 21,000 tonnes delivered into Singapore pushed LME inventories to their highest mark since July.
The strength of the US dollar was driven by safe-haven demand amid escalating tensions in the Middle East, adding further downward pressure to zinc prices. Despite these declines, losses remained constrained by concerns regarding tight supply and historically low inventories in specific regions outside China.
Zinc prices benefited from China's industrial recovery, with production increasing by 6.3% year-on-year in the first two months of 2026, alongside a slight improvement in fixed-asset investment. Support also came from China’s improving industrial activity, with output rising 6.3% year-on-year in January–February 2026 and modest gains in fixed-asset investment.
On the supply side, Boliden’s Tara mine in Ireland has resumed operations, while Ivanhoe Mines’ Kipushi project in the Democratic Republic of Congo is ramping up. Meanwhile, China’s FDI fell 5.7% to CNY 161.45 billion, and the PBoC kept lending rates unchanged, reflecting market expectations and a preference for stability over aggressive economic stimulus.
MCX Zinc prices witnessed notable selling pressure during the week, declining nearly -6.8%, with prices making a weekly low at 301.7 and settling at 307.95. The contract closed above the long-term 200DEMA (299.85); however, prices continue to trade below key moving averages, 20-50-100DEMA placed at 320.4, 319.73, and 312.63 respectively, reflecting prevailing bearish momentum and weakness in short-term trend structure.
Open interest declined by -1,680 lots alongside the price fall, suggesting long unwinding pressure in the market. Technical indicators highlight weakening momentum as prices slipped below near-term moving averages while holding marginally above long-term support.
The RSI remains subdued near 30.61 with the signal line around 46.48, indicating fading momentum and conditions approaching the oversold zone.
The overall trend remains under bearish pressure, and traders may prefer a sell-on-rise strategy, while maintaining caution near the strong support zone where price stabilization or short-term bounce may emerge.
| Support 2 | Support 1 | CMP | Resistance 1 | Resistance 2 |
|---|---|---|---|---|
| 288 | 299 | 307.95 | 318 | 328 |
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