The zinc price today in India edged up by 0.3%, settling at ₹266.4. Supported by optimism surrounding potential Chinese stimulus and a recent U.S. interest rate cut. Despite rising inventories, the outlook remains cautiously positive.

Shanghai Futures Exchange reported a 4.8% rise in zinc ingot stocks, totaling 114,500 metric tons, driven by increased imports and post-holiday restocking. However, weak downstream demand in regions like Guangdong has led to a significant build-up in inventory.

China’s refined zinc imports surged by 44.24% month-on-month in August to 26,500 metric tons, reflecting strong demand. Although the year-on-year figure saw a decline of 9.01%. Cumulative imports for the year have now hit 267,000 metric tons, up 30.72% from last year. On the supply front, Swedish miner Boliden’s delay in expanding its Odda zinc smelter until 2025 could tighten global supply in the future.

Globally, the zinc market is showing signs of stabilization. The surplus narrowed to 14,000 metric tons in July, down from 36,400 tons in June, signaling an improving balance between supply and demand. China’s refined zinc output also declined slightly in August due to power shortages and procurement issues, although smelters are resuming operations after maintenance.

Zinc price today in India shows strong technical support at ₹264, with potential resistance at ₹267.9. A move above this level could push prices to ₹269.4, indicating a positive short-term outlook for the zinc market.

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