Zinc prices are holding firm just below recent highs, with London Metal Exchange benchmarks trading around $3,529 per tonne.
The metal is navigating a complex backdrop where persistent supply tightness is counterbalancing demand concerns, keeping the market in a narrow trading range.
Technical indicators suggest the long-term uptrend remains intact, providing a floor for prices despite broader industrial metal volatility.
In Indian markets, the August futures contract is trading at ₹379 per kilogram, while the expiring July series sits at ₹384 per kilogram.
The premium on the near-month contract reflects immediate delivery pressures, but analysts note that the August series offers a clearer view of the medium-term trend.
The technical structure supports a positive outlook, with support levels holding steady against recent pullbacks.