India's cement sector expects sluggish volume growth in H1FY27 due to weak demand and rising input costs. April price hikes proved insufficient, and new supply additions in FY27-28 will keep prices under pressure, with recovery expected in H2FY27.
Crude oil fell 15.5% in June, lowering raw material costs for paint makers. ICICI Securities expects companies to keep prices unchanged through the festive season to maximize margins, with reductions likely only after Diwali. Savings may fund dealer incentives.
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Zinc Oxide | China | FOB | USD 3,098.35/MT | July 2026 |
| Zinc Oxide | India | CIF | USD 3,205.15/MT | July 2026 |
| Zinc Oxide | USA | CIF | USD 3,285.84/MT | July 2026 |
| Zinc Oxide | Germany | CIF | USD 3,231.98/MT | July 2026 |
| Zinc Oxide | Australia | CIF | USD 3,196.81/MT | July 2026 |
| Zinc Oxide | China | FOB | USD 3,086.36/MT | June 2026 |
| Zinc Oxide | India | CIF | USD 3,173.91/MT | June 2026 |
| Zinc Oxide | USA | CIF | USD 3,241.31/MT | June 2026 |
| Zinc Oxide | Germany | CIF | USD 3,207.85/MT | June 2026 |
| Zinc Oxide | Australia | CIF | USD 3,152.44/MT | June 2026 |
Stay updated with the latest Zinc Oxide prices, historical data, and tailored regional analysis
Asia
In China, Zinc Oxide prices increased from ~RMB 21.35/kg in April to ~RMB 22.40/kg in May, showing a ~4.9% increase. The market strengthened as rising zinc ingot costs, tight zinc concentrate availability, and falling treatment charges increased production costs for manufacturers. Competition among smelters for limited raw materials kept feedstock supply constrained despite a gradual recovery in mine output. Improving manufacturing activity supported demand from tyre manufacturing, rubber products, ceramics, chemicals, paints, and coatings, further reinforcing the upward pricing trend.
Europe
In Germany, Zinc Oxide prices rose from ~EUR 2.77/kg in April to ~EUR 2.92/kg in May, recording a ~5.2% increase. Higher imported zinc costs, following the rally in LME zinc prices, raised production expenses for regional manufacturers. Zinc oxide price strengthened mainly due to constrained concentrate supply rather than stronger end-user demand. Downstream consumption from tyres, coatings, ceramics, and construction remained stable but cautious, limiting producers' ability to fully pass through higher raw material costs.
North America
In the United States, Zinc Oxide prices increased from ~USD 3,213.96/MT in April to ~USD 3,429.05/MT in May, reflecting a ~6.7% increase. Rising zinc feedstock costs remained the primary pricing driver as refined zinc availability stayed tighter than previously anticipated. Stable consumption from automotive manufacturing, replacement tyres, industrial rubber goods, paints, and coatings prevented significant market weakness despite cautious procurement by manufacturers.
Analyst Insight
According to Procurement Resource, Zinc Oxide prices are expected to remain firm in the near term, supported by tight zinc concentrate availability and elevated feedstock costs.
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Asia
In Asia, zinc oxide prices remained firm, with China showing the strongest cost-driven pressure during Q1’26. Rising zinc metal prices, a key feedstock for zinc oxide production, steadily increased manufacturing costs during the quarter. Conditions became tighter toward March as Middle East tensions disrupted regional supply chains, and the closure of the Strait of Hormuz created logistical issues across shipping routes. Higher freight costs, delays in cargo movement, and pressure on raw material availability raised delivered input costs for producers. At the same time, zinc prices stayed elevated and volatile, which kept replacement costs high for manufacturers. Supply remained cautious as producers faced cost pressure, while demand from rubber, tire, ceramics, and industrial applications continued to support regular buying interest, keeping the market firm.
Europe
In Europe, zinc oxide price trends were driven by feedstock cost fluctuations and conservative downstream demand. The rubber and ceramics segment demand continued to be weak at the start of the quarter, limiting price gains. Nevertheless, as the quarter progressed, the market remained reactive to changes in the import situation and shipping rates, and zinc oxide prices remained mainly driven by feedstock costs. The region’s dependence on imported material and sensitivity to external trade flows meant that any increase in freight or disruption in upstream movement directly affected zinc oxide pricing.
North America
The zinc oxide price trend in North America saw market support from increased feedstock and logistics costs during Q1’26. The major feedstock, zinc, prices increased during the quarter, while port congestion and higher shipping costs increased the landed costs of imported materials. Stable demand in the automotive and rubber end-markets provided sufficient support to pricing despite selective procurement behaviour from buyers.
Zinc oxide is a white, powdery substance that occurs naturally as mineral zincite but is also synthetically produced. With a wide range of applications, zinc oxide is commonly used in sunscreens due to its ability to absorb and reflect harmful ultraviolet (UV) rays. It is also utilized in various industries, including cosmetics, rubber manufacturing, ceramics, and as a catalyst in chemical reactions. Additionally, zinc oxide possesses antimicrobial properties, making it useful in medical and healthcare products.
ZnO
Rubber industry, Ceramics production, Sunscreens and skincare products, Pharmaceuticals
Ace Chemie Zynk Energy Limited, AG CHEMI GROUP , LANXESS, Tata Chemicals Ltd, TOHO ZINC CO LTD, TP Polymer Private Limited, Yongchang Zinc Industry Co Ltd, Zochem Inc
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
During the process, zinc metal is first melted and vaporized. Then in subsequent steps, the metal undergoes oxidation to give zinc oxide that is then cooled and separated.
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