India’s zinc carbonate market is expected to remain firm through May 2026, supported by strong pre kharif demand, elevated feedstock costs, and persistent logistics constraints. ChemAnalyst projects a 3% month on month increase, driven by aggressive procurement from agrochemical and fertiliser blenders, firmer import offers from China and the UAE, and continued tightness in inland freight as rail rake priority remains with coal and fertiliser. Vessel congestion on the west coast and Middle East shipping disruptions are keeping landed costs elevated, reinforcing bullish sentiment. Downstream demand from rubber chemicals, pharmaceuticals, and coatings adds additional support, while construction and ceramics remain subdued due to early monsoon expectations. April laid the groundwork for this trend, with Ex Mumbai prices rising +5.19%, driven by higher zinc metal and zinc oxide costs, crude linked logistics inflation, and opportunistic restocking. With India’s 48% import dependence and firm global offers, May pricing is expected to remain supported unless freight or feedstock conditions shift materially.
