India: Zinc dross, oxide prices rise w-o-w on LME support but buyers remain cautious

• Firm global cues lend support to domestic prices
  
  
• Zinc oxide gains on steady downstream demand
  
  

India's zinc dross and zinc oxide markets moved higher w-o-w as of 8 April 2026, supported by firmer global cues. Benchmark three-month London Metal Exchange (LME) zinc prices increased by $82/t w-o-w to $3,309/t, providing cost-push support to domestic secondary zinc products. However, market activity remained measured, with buyers continuing to procure cautiously.

Zinc dross, oxide price movements

Domestic zinc dross prices increased to INR 275,000/t ex-Delhi, while western India levels were reported at around INR 270,000/t ex-works. Meanwhile, zinc oxide (99% Zn) prices rose by INR 6,800/t w-o-w to INR 265,000/t ex-Delhi, supported by steady demand from downstream sectors.

Market participants indicated that despite the upward trend in prices, procurement activity remained largely need-based. Buyers continued to avoid aggressive stocking amid ongoing price fluctuations.

Scrap segment trends

In the north Indian zinc scrap market, large-sized Tukdi (97% Zn) was offered at around INR 268,000/t ex-Delhi, while mid-sized Tukdi (97-98% Zn) prices were heard at INR 262,000-263,000/t. Scrap prices also moved up in line with the broader market, though trading activity remained moderate.

Outlook

In the near term, zinc dross and oxide prices are expected to remain firm, tracking LME trends. However, cautious buying behaviour and absence of strong demand momentum may limit sharp price increases.