For the Quarter Ending March 2026
Zinc Sulphate Prices in North America
- In United States, the Zinc Sulphate Price Index rose quarter-over-quarter in Q1 2026, driven by tightened zinc concentrate availability.
- The Zinc Sulphate Production Cost Trend faced upward pressure in March 2026 as producer prices increased by 4.0%.
- The Zinc Sulphate Demand Outlook remained stable in Q1 2026, supported by consistent agricultural fertilizer consumption.
- The Zinc Sulphate Price Forecast demonstrated firmness in March 2026, aligning with a 3.3% rise in consumer inflation.
- Industrial production grew by 0.7% in March 2026, sustaining baseline demand and the Zinc Sulphate Price Index.
- Retail sales grew 4.0% in March 2026, while the Manufacturing Index expanded, supporting downstream chemical consumption.
- Despite a 4.3% unemployment rate and 91.8 consumer confidence in March 2026, animal feed consumption maintained consistent levels.
- Sulfuric acid feedstock costs weakened in March 2026, easing some production cost pressures for zinc sulphate manufacturers.
Why did the price of Zinc Sulphate change in March 2026 in North America?
- Upstream zinc concentrate feedstock availability tightened significantly in Q1 2026, pressuring upstream costs for producers.
- Upstream zinc metal inventories trended downward, falling below historical benchmark levels by late February 2026.
- Elevated producer prices increased by 4.0% in March 2026, reflecting rising input and manufacturing costs.
Zinc Sulphate Prices in APAC
- In China, the Zinc Sulphate Price Index rose quarter-over-quarter in Q1 2026, driven by surging sulfuric acid feedstock costs.
- The Zinc Sulphate Production Cost Trend increased in March 2026 as the PPI rose 0.5% year-over-year.
- Retail sales grew 1.7% year-over-year in March 2026, while the CPI increased 1.0% year-over-year, impacting baseline costs.
- Industrial production grew 5.7% year-over-year in March 2026, aligning with an expanded Manufacturing Index in March 2026.
- The unemployment rate reached 5.4% in March 2026, and consumer confidence hit 91.6 in February 2026.
- The Zinc Sulphate Demand Outlook strengthened in March 2026 as agricultural spring planting fertilizer consumption increased.
- Sulfuric acid feedstock availability tightened significantly due to severe raw material bottlenecks in Q1 2026.
- Fertilizer export volumes plummeted amid strict quotas in Q1 2026, while national commercial reserves tightened in March 2026.
- The Zinc Sulphate Price Forecast reflected upward trends in Q1 2026 due to surging energy logistics costs.
Why did the price of Zinc Sulphate change in March 2026 in APAC?
- Sulfuric acid feedstock costs surged in Q1 2026 due to severe geopolitical shipping route disruptions.
- Agricultural fertilizer demand strengthened ahead of the spring planting season in China in March 2026.
- Zinc concentrate treatment charges plummeted in March 2026 amid constrained regional mine supply dynamics locally.
Zinc Sulphate Prices in Europe
- In Germany, the Zinc Sulphate Price Index rose quarter-over-quarter in Q1 2026, driven by strengthened agricultural demand.
- The Zinc Sulphate Production Cost Trend increased as the national CPI rose 2.7% year-over-year in March 2026.
- Despite a marginal -0.2% year-over-year PPI decline in March 2026, sulfuric acid feedstock costs strengthened for producers.
- The Zinc Sulphate Demand Outlook stabilized alongside a completely flat 0.0% year-over-year industrial production in February 2026.
- Weak 0.7% year-over-year retail sales growth in February 2026 and elevated 6.3% unemployment in March 2026 constrained markets.
- The domestic Manufacturing Index expanded in March 2026, even as consumer confidence dropped deeply to -24.7 points.
- Market analysts revised the Zinc Sulphate Price Forecast upward following strengthened agricultural fertilizer demand in Q1 2026.
- The Zinc Sulphate Price Index reflected import trade flow disruptions due to freight risks in Q1 2026.
Why did the price of Zinc Sulphate change in March 2026 in Europe?
- Sulfuric acid feedstock costs and broader energy costs surged due to geopolitical tensions in March 2026.
- Agricultural demand for micronutrient fertilizers strengthened significantly across the European manufacturing sector in March 2026.
- Regional zinc sulphate supply stabilized following the restoration of a major production facility in March 2026.
For the Quarter Ending December 2025
Zinc Sulphate Prices in North America
- In the United States, the Zinc Sulphate Price Index rose quarter-over-quarter in Q4 2025, driven by increasing production costs.
- Production costs increased in Q4 2025, influenced by a 3.0% PPI rise in November 2025 and higher zinc metal costs.
- Demand strengthened in Q4 2025, supported by a 2.0% industrial production increase year-over-year in December 2025.
- Agricultural and fertilizer sectors maintained strong seasonal consumption for zinc-based micronutrients into Q4 2025.
- North American sulfuric acid market experienced significant volatility and rising costs during Q4 2025.
- Overall inflation, indicated by a 2.7% CPI year-over-year in December 2025, influenced raw material expenses.
- Consumer confidence registered 89.1 in December 2025, and retail sales rose 3.3% in November, supporting market demand.
- The 4.4% unemployment rate in December 2025 indicated a stable labor market, influencing the overall economic outlook.
Why did the price of Zinc Sulphate change in December 2025 in North America?
- Production costs rose from a 3.0% PPI increase in November 2025 and higher zinc metal feedstock costs.
- Demand strengthened from a 2.0% industrial production rise in December 2025 and robust agricultural consumption.
- Supply constraints in the North American sulfuric acid market in Q4 2025 contributed to upward price pressure.
Zinc Sulphate Prices in APAC
- In China, the Zinc Sulphate Price Index rose quarter-over-quarter in Q4 2025, driven by strengthening industrial demand.
- Zinc Sulphate production costs increased in Q4 2025, influenced by strengthened zinc concentrate treatment charges.
- Demand for Zinc Sulphate rose in Q4 2025, supported by a 5.2% rise in industrial production in December 2025.
- The Manufacturing Index expanded in December 2025, indicating stronger activity for Zinc Sulphate end-use sectors.
- Elevated sulfur prices during the second half of 2025 contributed to higher Zinc Sulphate input costs.
- Tight global zinc market fundamentals and domestic ore maintenance in Q4 2025 constrained Zinc Sulphate supply.
- Retail sales increased by 0.9% YoY in December 2025, reflecting general consumer activity.
- Consumer Price Index YoY increased by 0.8% in December 2025, reflecting broader economic conditions.
- Despite a -1.9% decline in Producer Price Index YoY in December 2025, specific Zinc Sulphate feedstock costs increased.
Why did the price of Zinc Sulphate change in December 2025 in APAC?
- Industrial production strengthened by 5.2% in December 2025, boosting Zinc Sulphate demand.
- Zinc concentrate treatment charges strengthened in Q4 2025, increasing Zinc Sulphate production costs.
- Sulfuric acid supply tightened in Q4 2025 due to a regional producer's halt.
Zinc Sulphate Prices in Europe
- In Germany, the Zinc Sulphate Price Index fell quarter-over-quarter in Q4 2025, influenced by a contracting manufacturing index in December 2025.
- Zinc Sulphate production costs faced pressure from elevated natural gas prices persisting from Q1-Q3 2025.
- The economic outlook for Germany's chemicals and metals sectors strengthened in December 2025.
- The Producer Price Index for industrial products declined by 2.5% year-on-year in December 2025.
- Germany's Manufacturing Index contracted in December 2025, indicating a slowdown in industrial activity.
- Industrial production in Germany rose by 0.8% year-on-year in October 2025.
- Retail sales increased by 1.1% year-on-year in November 2025.
- Consumer Price Index rose by 1.8% year-on-year in December 2025, impacting purchasing power.
- The unemployment rate stood at 6.2% in December 2025, reflecting labor market conditions.
- Consumer confidence remained low at -17.5 in December 2025, affecting future spending.
Why did the price of Zinc Sulphate change in December 2025 in Europe?
- Producer Price Index declined by 2.5% year-on-year in December 2025, reducing input costs.
- Germany's Manufacturing Index contracted in December 2025, signaling weaker industrial demand.
- Elevated natural gas costs from Q1-Q3 2025 pressured chemical production expenses.
For the Quarter Ending September 2025
Zinc Sulphate Prices in APAC
- In India, the Zinc Sulphate Price Index fell by 2.8% quarter-over-quarter in Q3 2025 broadly.
- The average Zinc Sulphate price for the quarter was approximately USD 824.19/MT per domestic reporting.
- Domestic Zinc Sulphate Spot Price eased as fertilizer procurement slowed, reducing trading activity and margins.
- Current Zinc Sulphate Price Forecast anticipates limited upside without export recovery or stronger agricultural purchasing.
- Stable feedstock and energy inputs supported a neutral Zinc Sulphate Production Cost Trend for manufacturers.
- Zinc Sulphate Demand Outlook remains mixed as seasonal agricultural buying offsets weaker industrial offtake currently.
- Inventory increases at warehouses pressured the Zinc Sulphate Price Index, constraining price upside this quarter.
- Major producers operated at steady rates; modest export inquiries provided upward support to domestic pricing.
Why did the price of Zinc Sulphate change in September 2025 in APAC?
- Weaker domestic fertilizer buying reduced demand, pressuring spot prices despite steady production and logistics continuity.
- Stable feedstock and energy costs limited production cost increases, reducing inflationary pressure on Price Index.
- Competitive international offers constrained exports, lowering external demand and reducing upward momentum for domestic prices.
Zinc Sulphate Prices in North America
- North America’s Zinc Sulphate Price Index rose modestly through Q3 2025, with the Zinc Sulphate Spot Price firming in September as upstream zinc metal and certain feedstock costs ticked up. Overall quarterly movement was moderate versus the sharp swings seen earlier in 2024.
- Why did price change in September 2025: The September rise in the Price Index was driven primarily by firmer zinc metal futures/spot (tightening LME signals and regional restocking), while logistics and seasonal restocking by fertiliser/animal-feed formulators added short-term demand. These mixed forces pushed Zinc Sulphate Spot Price higher in September.
- Production costs moved slightly higher in Q3 as zinc metal feedstock and energy costs increased; sulfuric acid availability remained adequate but upward pressure on metal feedstock dominated producers’ input-costs, tightening margins for merchant producers.
- Demand remained stable-to-positive: agricultural (micronutrient fertilisers) buying picked up ahead of late-season applications, animal-feed formulators continued steady purchases, and industrial uses (electroplating, water treatment, pharma intermediates) showed seasonal resilience. Overall demand outlook for Q4 is cautiously constructive, contingent on zinc metal price direction.
- Expect near-term consolidation with upside risk if zinc metal markets tighten further or if agriculture restocking accelerates; a shallow rise (low-single-digit % from October baseline) is the base-case for Q4 barring macro shocks.
- Spot liquidity remained available but vendors sought incremental premiums on short-dated cargoes during September’s firmness.
- North American producers/importers balanced domestic merchant sales with steady inbound shipments; import reliance for specialized grades (e.g., high-purity heptahydrate for pharma) kept some vulnerability to global zinc flows.
Zinc Sulphate Prices in Europe
- Europe’s Zinc Sulphate Price Index recorded a moderate uptick in Q3 2025 with the largest single-month movement in September, mirroring global zinc metal dynamics and localized restocking in fertiliser and industrial segments. Market participants reported slightly firmer Zinc Sulphate Spot Price levels versus mid-Q3.
- Why did price change in September 2025: The September increase was primarily caused by an uptick in LME/physical zinc values and logistical repositioning by distributors ahead of Q4. In addition, elevated demand from speciality agricultural formulators in Eastern Europe supported near-term offtake.
- European producers faced a modest increase in production cost trends driven by higher metal feedstock and energy prices; however, sulfuric acid supply was generally available and not a primary cost driver. The net effect was a compression of producer margins that limited willingness to discount.
- Demand drivers were mixed: agriculture (micronutrient fertilisers and foliar applications) showed pockets of strength, while industrial demand (electroplating, water-treatment chemicals, certain pharmaceutical uses) was steady. Overall Zinc Sulphate Demand Outlook is stable with seasonal increases expected in Q4 for agricultural applications.
- Short-term outlook points to sideways-to-slightly-higher Price Index, contingent on zinc metal market trajectories and European fertiliser restocking schedules; upside is possible if LME/physical zinc pricing extends gains.
- Spot activity was concentrated on merchant and specialty grades; availability was adequate but sellers withheld volumes at the early-September levels, supporting price resilience.
For the Quarter Ending March 2025
North America
The price trend of Zinc Sulphate in the North American region, particularly the USA for Q1 2025 has exhibited a bearish trajectory, characterized by stable yet downward pricing. In January, market sentiments were subdued due to winter-related supply chain disruptions and limited demand from the agrochemical sector, leading to cautious trading behavior among buyers and sellers. Despite efforts to stabilize the market, hesitant participation resulted in lowered quotations and an overall bearish outlook.
February saw a continued decline in prices, amid high production costs but weak demand. The absence of a plantation season further suppressed purchasing activities, preventing significant market fluctuations. Importers remained reluctant to engage in bulk orders, favoring need-based procurement to manage costs, coupled with ample inventory levels.
By March, the trend persisted with negative sentiment due to ongoing market uncertainties, including potential tariffs on imports from Canada and Mexico. Although the plantation season began, demand remained limited as cautious procurement strategies dominated the landscape. The favorable economics of domestic production further contributed to the cautious behavior observed among market participants. In summary, Q1 2025 revealed persistent bearish conditions, with factors such as weak demand, high production costs, and strategic hesitations shaping the overall market dynamics.
APAC
In Q1 2025, Zinc Sulphate prices in the APAC region, particularly India showed a fluctuating trend, primarily influenced by demand dynamics in the agrochemical sector. January began with a significant downtrend, driven by a lack of market enthusiasm and cautious buyer behavior. The overall demand was dampened due to high production costs, and limited policy support which squeezed farmers’ purchasing power.
February continued this downward trajectory, with Zinc Sulphate prices declining significantly as seasonal maintenance in the agrochemical sector further muted demand. Manufacturers adopted conservative supply strategies, opting for long-term contracts in light of low downstream activity. However, optimism for a demand rebound emerged due to preparations ahead of the Kharif season.
In March, prices reversed the trend, following heightened trading activities and proactive bulk purchases. Continued demand from the agrochemical sector, despite supply constraints from production disruptions, reinforced positive market sentiment. The demand remained robust as preparations for the Kharif season intensified, supported by strategic government initiatives aimed at enhancing agricultural productivity.
In summary, Q1 2025 illustrated a transition from initial price declines to an upward shift by March, reflecting the cyclical nature of agricultural demand and the ongoing dependence on Zinc Sulphate for soil health.
Europe
The price trend of Zinc Sulphate in the European region, particularly Germany demonstrated a consistent bullish sentiment, throughout the quarter. Significant supply constraints, escalating production costs, and robust demand from the agrochemical sector due to the ongoing plantation season were the primary drivers of this trend.
In January, prices increased, influenced by supply chain disruptions in Hamburg and strong demand from downstream industries. February maintained this bullish momentum, as production levels faltered due to ongoing refinery output issues and elevated feedstock costs. By March, the Zinc Sulphate market continued to reflect high demand, particularly from agrochemical sectors, as procurement activities intensified despite persistent supply shortages.
Logistical challenges, including maintenance and operational disruptions at production facilities, further constrained supply. The quarter concluded with a heightened demand outlook amid high consumption levels, reinforcing the bullish pricing trend of the Zinc Sulphate market in Germany. As a result, market participants maintained expectations for continued pressure on prices as demand progressively increased against a backdrop of limited supply.
