Zinc prices averaged USD 4,016 per metric ton in September, up 3.4% from August. On 30 September, the commodity traded at USD 3,915 per metric ton, down 4.1% from 31 August.
Zinc prices rose for a sixth consecutive month in September, marking one of the strongest gains among base metals and pushing prices to their highest level in more than four years. Prices are now up by over 25% year to date, supported by tight inventories and supply disruptions stemming from the Iran war and curbs on Chinese smelting capacity. LME inventories, in particular, have declined steadily since January and are now well below half of their 2024 levels.
This chart displays Zinc (US$/mt) from 2024 to 2026.
High Grade Zinc LME (prices in US$/mt, aop)
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | Q3 2026 | Q4 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High Grade Zinc LME | - | - | - | 3,049 | 2,837 | 2,636 | 2,829 | 3,162 | 3,235 | 3,457 | 3,829 | - |