Zinc Future Price Forecast for Next Week (20th

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Zinc Price Forecast for Next Week (20th - 24th April 2026)

MCX Zinc futures prices ended a week on a positive note supported by improving market sentiment amid easing US-Iran tensions and signs of tighter near-term supply. President Donald Trump expressed optimism that a peace deal with Iran could be reached soon, saying a second round of talks may take place over the weekend. On the supply side, inventories at the Shanghai Futures Exchange fell by 1.7% over the past week, signaling tighter availability, while ongoing mine closures and operational disruptions have also limited immediate supply. However, the broader outlook remains mixed, as the restart of Boliden's Tara mine and the ramp-up of production at Ivanhoe Mines' Kipushi project are expected to keep the market in a modest surplus. Demand conditions continue to offer support, with forecasts pointing to annual growth of around 2%.

MCX Zinc future has continued its upside momentum for the 4th consecutive week, surged by +2.41% and settled at 339.30. Zinc price has continued to trade in Rising channel formation, sustaining over its key moving averages i.e. 20, 50 and 100-DEMA levels placed at 328.45, 323.50 and 316.75 respectively. Daily SAR is also placed at 320.50. Price has found hurdle over 343.90 on Friday. Although price was in a up move, we can observe a decline in Ol level in current contract to 2110 lots, suggesting early signs of exhaustion of the bullish momentum and we may expect price correction in next week. RSI levels are already inflated over 70 on Daily, Weekly as well as Monthly charts, suggesting overall overbought condition.

Overall trend remains sideways to bullish, and traders may continue to maintain a positive bias while exercising caution near resistance zones as long as support levels remain intact.