Zinc Price Prediction for Tomorrow, Friday 7 August 2026: MCX Zinc at Rs 378 Holds Near 4-Year High on China Supply Deficit as SBI Q1 Provides Secondary Sentiment Catalyst
- August 6, 2026
- Posted by: Kunal Singla
- Category: News
MCX Zinc Thu: Rs 378/kg (-Rs 1, -0.26%). COMEX: ~$3,680/tonne (4-yr high). Day range: Rs 373-383. Supply deficit intact. SBI Q1 Fri.
The zinc price prediction for tomorrow for Friday 7 August 2026 is framed by Thursday’s weekly options expiry session where Nifty 50 settled at approximately 24,617 (flat), India VIX touched an intraday low of 10.80 (the calmest reading since Monday), Bank Nifty recovered 240 points to approximately 57,980 and Sensex gained 109 points to approximately 78,690 as IT stocks reversed Wednesday’s decline and Reliance Industries led the session. Brent crude at 79.28 US dollars (up 1.1 percent on Thursday, no formal Iran deal confirmed) and gold at 4,356 US dollars (7-week high on Strait of Hormuz reopening optimism) are the key commodity markers for Friday. The Dow Jones hit a record 54,349 on Wednesday night, providing a positive global backdrop, though South Korea’s Kospi fell 4.08 percent Thursday — the primary overnight risk for Friday. MCX Zinc eased marginally by 0.26 percent Thursday as the stronger rupee compressed dollar-denominated commodity prices in rupee terms, but COMEX Zinc maintained its 4-year high near 3,680 US dollars per tonne with Chinese smelter maintenance cuts fully intact. The zinc price prediction for tomorrow is structurally bullish, the most fundamentally independent of all commodity predictions from the SBI Q1 result — the supply deficit is driven by Chinese smelter maintenance, not Indian financial events. The zinc price prediction for tomorrow is shaped above all by SBI Q1 FY27 results, with the board meeting confirmed for Friday August 7: NIM recovery above 3 percent (from Q4 FY26’s 2.93 percent) is the week’s most critical financial metric. Ankit Jaiswal, Senior Research Analyst at Univest, and Kunal Singla, Associate Director at Univest, present the complete zinc price prediction for tomorrow.
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Thursday’s Data Behind the zinc price prediction for tomorrow
| Indicator | Thursday 6 Aug Close | Change |
|---|---|---|
| Primary Level | Rs 378 per kg | -Rs 1 (-0.26%) |
| Day Range | Rs 373-383 | Session high/low |
| Nifty 50 | ~24,617 | Flat (-0.03%) — expiry pinned near max pain 24,600 |
| Sensex | ~78,690 | +109 pts (+0.14%) — IT, Reliance led |
| Bank Nifty | ~57,980 | +240 pts (+0.41%) — private banks partial recovery |
| India VIX | ~12.06 (low 10.80) | Calmest expiry since Monday |
| Brent Crude | $79.28 (+1.1%) | No Iran deal confirmed; slight bounce from $78.44 |
| Gold | $4,356 (+1.2%) | 7-week high on Strait reopening optimism |
| Dow Jones | 54,349 record | +0.49%; strong US backdrop for Friday |
| Kospi | -4.08% | South Korean tech selloff — primary overnight risk |
| SBI Q1 FY27 | Board meeting Friday Aug 7 | NIM recovery above 3% from Q4’s 2.93% is key |
Ankit Jaiswal notes the zinc price prediction for tomorrow is shaped by three converging factors for Friday: the post-expiry calmer session dynamics (weekly expiry completed today; August monthly series starts fresh Friday), SBI Q1 FY27 results as the binary domestic catalyst, and Brent crude at 79.28 US dollars still below 80 US dollars despite Thursday’s slight 1.1 percent bounce. The zinc price prediction for tomorrow analysis below maps each factor to its impact on Friday’s likely range and direction.
SBI Q1 FY27 Results: The zinc price prediction for tomorrow Primary Catalyst for Friday
SBI‘s board meets Friday August 7 to approve Q1 FY27 results. The most critical metric for Friday: domestic NIM, which compressed to 2.93 percent in Q4 FY26 below SBI’s own 3 percent guidance. Ankit Jaiswal maps the zinc price prediction for tomorrow outcomes: NIM recovery above 3 percent (55 percent probability) triggers SBI up 3-5 percent and Bank Nifty above 58,400 — the primary positive catalyst across all zinc price prediction for tomorrow setups on Friday. NIM below 2.95 percent (25 percent probability) would reverse Thursday’s partial banking recovery and create the zinc price prediction for tomorrow bear case for banking-linked assets. Credit growth target is 13-15 percent year-on-year (system-wide 18.3 percent provides sector context), GNPA target below 2.3 percent.
Technical Levels for the zinc price prediction for tomorrow
| Level Type | Zone |
|---|---|
| Immediate Support | Rs 365-372 |
| Support 2 | Rs 357-362 |
| Strong Support / 50 DMA | Rs 347-354 |
| Immediate Resistance | Rs 385-392 |
| Key Resistance | Rs 396-408 |
Kunal Singla observes that the zinc price prediction for tomorrow enters Friday with India VIX at 12.06 (intraday low 10.80 Thursday), resetting from the weekly series to the August monthly series. The August monthly PCR for Nifty is approximately 1.05-1.10 with max pain near 24,500-24,600 — confirming a well-supported market floor for the zinc price prediction for tomorrow. The zinc price prediction for tomorrow’s Rs 385-392 is the primary resistance that SBI Q1 beat results must clear for the bullish case to be sustained through Friday’s full session.
Global Cues and Iran Deal for the zinc price prediction for tomorrow
Brent crude at 79.28 US dollars on Thursday (up 1.1 percent from Wednesday’s 78.44 US dollars) signals no formal Iran-US deal was confirmed despite continued Qatar-Oman-Pakistan shuttle diplomacy. The Strait of Hormuz remains partially shut. For the zinc price prediction for tomorrow, this crude price range of 78-80 US dollars is the structural neutral zone: FMCG and Auto benefit from crude still below 80 US dollars, while ONGC and upstream energy face the same Q2 realization concerns as Thursday. Gold at 4,356 US dollars (7-week high) reflects institutional positioning for Strait reopening — a structural positive for India’s macro balance of payments in this outlook context. The Dow Jones record at 54,349 is the zinc price prediction for tomorrow’s primary global positive; Kospi’s 4.08 percent fall is the primary global risk. Ankit Jaiswal recommends monitoring Nikkei futures overnight: Nikkei staying above -1.5 percent confirms the zinc price prediction for tomorrow Asian backdrop is stable.
Key Factors Shaping the zinc price prediction for tomorrow
- COMEX Zinc near 3,680 US dollars at its 4-year high reflects a supply deficit from Chinese smelter maintenance (Zhuzhou Smelter reduced output by 1,200 tonnes monthly) and Glencore’s 21 percent year-on-year H1 2026 production decline — both structural and independent of SBI Q1 in this outlook.
- The Dow Jones record at 54,349 signals US infrastructure spending confidence. US galvanised steel demand (for construction, auto and appliances) is the key Western driver of the zinc price prediction for tomorrow’s demand picture.
- Dollar softness from the Dow record and Iran deal optimism provides a forex tailwind for dollar-denominated zinc prices in this outlook.
Stocks to Watch in the zinc price prediction for tomorrow
Univest analysts flag the following stocks for educational observation in this outlook on Friday. These are not buy or sell recommendations.
Hindustan Zinc: CMP Rs 528. Ankit Jaiswal flags entry Rs 521-526, target Rs 550, SL Rs 508. Hindustan Zinc is the direct COMEX Zinc 4-year high beneficiary in India and the primary equity expression of the zinc price prediction for tomorrow. This is a watch in this outlook.
Hindalco: CMP Rs 758. Kunal Singla flags entry Rs 748-755, target Rs 782, SL Rs 735. Hindalco participates in the broad base metals rally that supports the zinc price prediction for tomorrow. This is a watch in this outlook.
Tata Steel: CMP Rs 175. Ankit Jaiswal flags entry Rs 172-174, target Rs 183, SL Rs 168. Tata Steel’s galvanised steel operations use zinc directly, linking it to the zinc price prediction for tomorrow. This is a watch in this outlook.
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Trading Strategy for the zinc price prediction for tomorrow
- Track COMEX Zinc above 3,700 US dollars overnight for the zinc price prediction for tomorrow. COMEX holding above 3,680 overnight confirms the structural bull case.
- Rs 365-372 is the buy-on-dip zone for the zinc price prediction for tomorrow. Ankit Jaiswal recommends long positions above Rs 372.
- Rs 385-392 is the first resistance in this outlook. Kunal Singla recommends booking 50 percent of positions here.
- SBI Q1 FY27 result: a positive outcome improving broad risk-on sentiment would provide a secondary boost to the zinc price prediction for tomorrow through base metals sector risk flows.
Risks to the zinc price prediction for tomorrow
- Chinese smelter maintenance ending early easing zinc supply and reversing the zinc price prediction for tomorrow structural bull case.
- Kospi contagion overnight creating Asian risk-off that reduces base metals demand expectations in this outlook.
- Rupee further strengthening from SBI Q1 beat confidence compressing MCX Zinc in rupee terms in this outlook.
Conclusion
The zinc price prediction for tomorrow for Friday 7 August 2026 is built on Thursday’s close of Rs 378 per kg (-Rs 1 (-0.26%)), a calm expiry session with VIX touching 10.80 intraday, and SBI Q1 FY27 results as the binary domestic catalyst. Ankit Jaiswal of Univest identifies Rs 385-392 as the primary resistance and Rs 365-372 as the critical support for the zinc price prediction for tomorrow. NIM recovery above 3 percent is the single most important metric in this outlook for Friday: it confirms SBI’s guidance was achievable and unlocks the banking sector’s bull case across all related zinc price prediction for tomorrow asset classes.
Kunal Singla of Univest notes that the post-expiry Friday session carries structurally lower intraday volatility than Thursday’s expiry day. The Dow Jones at record 54,349 and IT stocks recovering Thursday both support the zinc price prediction for tomorrow’s positive bias. Watch the Kospi overnight: stability above -1 percent confirms the zinc price prediction for tomorrow Asian risk is contained and the SBI result can be traded directionally.
Disclaimer: Data and figures are sourced from publicly available information and may or may not be accurate. Verify with NSE (nseindia.com), BSE (bseindia.com) and MCX (mcxindia.com) before any investment decision. Investments are subject to market risk. Educational purposes only. Not investment advice by Univest (SEBI RA INH000013776).
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FAQs on Zinc Price Prediction For Tomorrow, 7 August 2026
What is the zinc price prediction for tomorrow, Friday 7 August 2026?
Ans. The zinc price prediction for tomorrow is structurally bullish. MCX Zinc closed Thursday at Rs 378 per kg, down 0.26 percent on rupee strength but COMEX maintained 4-year highs near 3,680 US dollars. Support is Rs 365-372 and resistance Rs 385-392 in this outlook.
Why is zinc structurally bullish in the zinc price prediction for tomorrow?
Ans. Chinese smelter maintenance cuts (Zhuzhou -1,200 tonnes/month) and Glencore’s 21 percent year-on-year H1 2026 production decline maintain a global supply deficit independent of Indian financial events, making the zinc price prediction for tomorrow the most structurally robust commodity prediction.
Which analysts prepared the zinc price prediction for tomorrow?
Ans. Ankit Jaiswal, Senior Research Analyst, and Kunal Singla, Associate Director at Univest, prepared the zinc price prediction for tomorrow.
What is MCX Zinc support and resistance for the zinc price prediction for tomorrow?
Ans. Support is Rs 365-372 and Rs 357-362. Resistance is Rs 385-392 and Rs 396-408 in this outlook.
What stocks are linked to the zinc price prediction for tomorrow?
Ans. Hindustan Zinc (India’s only integrated zinc smelter), Hindalco (base metals) and Tata Steel (galvanised steel) are the three stocks in this outlook.
