en.Wedoany.com Reported - Hindustan Zinc Ltd (HZL) reduced prices for zinc ingots and lead ingots on June 1, 2026, with zinc ingot prices down by INR 3,300/tonne ($39/tonne) from May 28, and lead ingot prices down by INR 2,100/tonne ($25/tonne).
HZL's benchmark Special High Grade (SHG) zinc ingot price fell to INR 376,200/tonne ($4,390/tonne), while the lead ingot price dropped to INR 226,900/tonne ($2,649/tonne). Adjustments for other zinc grades are as follows: Special High Grade - Continuous Galvanizing Grade (SHG-CGG) at INR 377,700/tonne, Special High Grade Jumbo (SHG-Jumbo) at INR 376,700/tonne, High Grade (HG) at INR 375,700/tonne, and Prime Western (PW) at INR 374,200/tonne.
On the London Metal Exchange (LME), as of 14:10 Indian Standard Time, zinc was quoted at $3,578/tonne, up 0.99%, while lead rose 0.15% to $2,019/tonne.
Despite the recent price cuts, HZL's SHG zinc price remains slightly above the domestic spot market. According to BigMint's latest assessment on May 29, spot zinc ingot prices were around INR 374,000/tonne (Delhi ex-works). Market participants noted that procurement activity remains largely driven by essential demand, with consumers staying cautious amid high prices.
The global zinc market sentiment is generally bullish. JP Morgan expects zinc prices to remain elevated for the remainder of 2026, driven by persistent mine supply disruptions despite weak end-user demand. The bank has cut its 2026 global refined zinc production forecast by nearly 300,000 tonnes, tightening the global market balance and reducing the expected surplus to around 130,000 tonnes. Additionally, due to production disruptions and missed output guidance at major mines in Sweden, the United States, and Peru, mine supply growth in 2026 is expected to decline by 5% year-on-year. JP Morgan forecasts the average LME zinc price for the rest of the year to range between $3,400/tonne and $3,500/tonne.
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