Zinc averaged $4,020.55 a metric ton in September 2026, the highest since April 2022

The International Monetary Fund's global price of zinc averaged $4,020.55 per metric ton in September 2026, about $1.82 a pound. That is 3.5% above August and 36.9% above September 2025. It is the highest monthly average since April 2022, when zinc averaged $4,371.34, and the fourth highest of the 417 months in the series since January 1992.

The price has risen for six months in a row, by 26.3% since March. The IMF published August and September together on October 22, and the June and July values were unchanged in that update.

Zinc matters to a metal buyer mostly through the coating on steel. The U.S. Geological Survey reports that galvanized steel is the leading use of refined zinc in the United States, ahead of brass and bronze and zinc-base alloys such as die-casting metal.

Six monthly rises took zinc from $3,182.26 in March to $4,020.55

The largest rise of the past 12 months came in August, when the price rose 8.1%. Over the 13 months in the table, the change on the year grew from 3.1% in September 2025 to 39.2% in August 2026, then eased to 36.9% in September.

Zinc rose 3.5% in September, the most of seven metal prices

Zinc rose 3.5% in September, the most of the seven metal and ore prices in the table. Copper and aluminum each rose 1.0%. Tin fell 3.0% from its August record and nickel fell 2.5%. On the year, tin rose the most, 55.6%, followed by copper at 44.8% and zinc at 36.9%. Lead and iron ore were both below September 2025.

The United States imported 600,000 tons of refined zinc in 2025

The United States relies on imports for most of its refined zinc. USGS estimates that the country produced 220,000 metric tons of refined zinc in 2025, imported 600,000 tons and consumed 820,000 tons, for a net import reliance of 73%.

From 2021 through 2024, Canada supplied 57% of refined zinc imports, Mexico 15% and Peru 8%. USGS also reports that U.S. mine output fell an estimated 12% in 2025, mostly because the Red Dog Mine in Alaska worked lower ore grades as it neared the end of its life.

Census Bureau trade data show the higher price in the import bill more than in the tonnage. From January through August 2026, imports of unalloyed zinc of at least 99.99% purity came to 229,534 metric tons, 2.7% less than in the same months of 2025. Their customs value rose 15.9% to $808.6 million.

Tons imported, Jan to Aug 2026

229,5342.7% less than a year earlier

Customs value, Jan to Aug 2026

$808.6M15.9% more than a year earlier

The Census Bureau defines customs value as the price paid for goods sold for export to the United States, before U.S. duties, freight and insurance. Dividing value by weight, August 2026 imports came in at $3,791 a ton, against $2,879 in August 2025.

All unwrought zinc imports under heading 7901 were worth $1.46 billion from January through August 2026, 21.2% more than a year earlier, and 63.2% of that value came from Canada.

The metal coating price index rose 6.1% in a year

The Bureau of Labor Statistics publishes a producer price index for metal coating and nonprecious engraving. A producer price index tracks what U.S. businesses receive for what they sell. This industry, by the Census Bureau's definition, includes shops that hot dip galvanize, powder coat, paint and enamel metal for other companies. The index stood at 229.619 in September 2026 (December 1984 = 100), 0.3% below August and 6.1% above September 2025.

The coating index moved far less than the metal. From September 2024, zinc rose 41.2% and the coating index 9.9%. The index covers many coating processes besides galvanizing, so it does not track zinc alone.