Zinc Future Price Forecast for Next Week (11th

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Zinc Price Forecast for Next Week (11th - 15th May 2026)

Zinc futures rose this week, supported by tightening supply conditions and stronger demand signals from China. Prices were aided by falling London Metal Exchange inventories, a narrower Cash-3M contango, and lower treatment charges, all of which pointed to reduced prompt availability and constrained raw material supply. Market sentiment also improved as Chinese industrial activity picked up, though persistent Middle East tensions kept the broader outlook cautious. Supply concerns were further highlighted after an explosion hit Kazakhstan's largest zinc production facility, owned by Glencore, while ongoing mine closures and operational disruptions added pressure. Stocks at the Shanghai Futures Exchange also declined, and port-side concentrate inventories fell sharply. Some relief may come from expected restarts at Boliden's Tara mine, Ivanhoe's Kipushi project, and Garpenberg in Q2, but it will take time to flow supply gradually due to shipping distruption in Hormuz.

After having correction in the past week, Zinc price has continued to trade in Bullish trend, risen by +1.49%, and settled at 348.40. Price has continued to trade in Rising channel, sustaining over its key moving averages i.e. 20, 50 and 100-DEMA levels placed at 341.55, 333.25 and 324.10 respectively. Immediate hurdle would be at 353.20 and breakout of this level will lead Zinc price towards its all- time high level of 360.50. Daily SAR is placed at 338.20. With this week's price rise, we have not observed any significant rise in Ol level, which is around 2000 lots at the closing. RSI levels remained around 65 - 75 on Daily, Weekly and Monthly chart.

We are expecting Sideways-to-Bullish trend in Zinc in next week and traders should look for Buy- on-dips opportunity.