FX & Commodity Almanac

ECB fixings to 16 Oct 2026 · World Bank prices to September 2026

Base metals & ore · World Bank monthly average

What is the Zinc price and how has it changed?

Zinc averaged 4,021 US dollars per metric ton in September 2026, according to the World Bank Pink Sheet. That is 3.8% above Aug 2026 and 37.1% above Sept 2025, and in the top tenth of all monthly averages since January 2000.

Sept 2026 average
4,021$/mt · US dollars per metric ton
Month on month
▲ +3.8%from 3,875 in Aug 2026
Year on year
▲ +37.1%from 2,933 in Sept 2025
12-month range
3,152–4,021low Oct 2025 · high Sept 2026

The last five years

Zinc, monthly average price, last five yearsZinc from 3,036 $/mt in Sept 2021 to 4,021 in Sept 2026; five-year high 4,360 (Apr 2022), low 2,360 (Feb 2024). 2,0002,5003,0003,5004,0004,500 20222023202420252026
Monthly averages, Sept 2021 – Sept 2026, $/mt. Yellow dot: latest month.

What the record shows

  1. Over five years the price ranged from 2,360 (Feb 2024) to 4,360 (Apr 2022). Sept 2026 sits 83% of the way from that low to the high.
  2. Since January 2000 the record high is 4,405 (Dec 2006) and the low 748 (Aug 2002). The latest month is higher than 99% of the 321 monthly averages in that span, in nominal dollars (not adjusted for inflation).
  3. The highest full-year average since 2000 was 2022 (3,481); the lowest was 2002 (779).
  4. Annualised volatility of monthly changes over the past five years was 21.9%, close to the 22.2% for the whole record since 2000. Monthly averages smooth out intra-month swings, so daily markets move more than this.
  5. Five years earlier, in Sept 2021, the average was 3,036: the price is 32.4% above that level.

Yearly averages

Zinc yearly average, change, high month and low month
YearAveragevs prior yearHighest monthLowest month
2026 9 mo. 3,511 ▲ +22.4% 4,021 Sep 3,182 Mar
2025 2,868 ▲ +3.3% 3,177 Nov 2,622 Apr
2024 2,776 ▲ +4.6% 3,106 Oct 2,360 Feb
2023 2,653 ▼ −23.8% 3,310 Jan 2,375 Jun
2022 3,481 ▲ +15.9% 4,360 Apr 2,939 Nov
2021 3,003 ▲ +32.5% 3,399 Dec 2,705 Jan
2020 2,266 ▼ −11.1% 2,780 Dec 1,903 Apr
2019 2,551 ▼ −12.7% 2,933 Apr 2,273 Aug
2018 2,923 ▲ +1.1% 3,533 Feb 2,435 Sep
2017 2,891 ▲ +38.3% 3,265 Oct 2,573 Jun
2016 2,090 ▲ +8.2% 2,665 Dec 1,520 Jan
2015 1,932 ▼ −10.6% 2,282 May 1,528 Dec
2014 2,161 ▲ +13.1% 2,327 Aug 2,008 Mar
2013 1,910 ▼ −2.1% 2,129 Feb 1,832 May
2012 1,950 ▼ −11.1% 2,058 Feb 1,818 Aug
2011 2,194 ▲ +1.5% 2,465 Feb 1,871 Oct
2010 2,161 ▲ +30.5% 2,434 Jan 1,743 Jun
2009 1,655 ▼ −11.7% 2,376 Dec 1,112 Feb
2008 1,875 ▼ −42.2% 2,511 Mar 1,101 Dec
2007 3,242 ▼ −1.0% 3,831 May 2,353 Dec
2006 3,275 ▲ +137.1% 4,405 Dec 2,090 Jan

Average = simple mean of the monthly averages published for that year. Rows in italics are incomplete years. Table shows 2006 onward; the charts and statistics use the full record from Jan 2000.

Since January 2000

Zinc, monthly average price since January 2000Zinc monthly averages from Jan 2000 to Sept 2026; highest 4,405 $/mt in Dec 2006, lowest 748 in Aug 2002. 01,0002,0003,0004,0005,000 200020032006200920122015201820212024
Monthly averages, nominal US dollars ($/mt).

Largest one-month moves since 2000

MonthFromToMove
Apr 20062,4173,085▲ +27.6%
Oct 20081,7351,302▼ −25.0%
May 20102,3671,968▼ −16.9%
May 20063,0853,566▲ +15.6%
Aug 20223,1053,588▲ +15.6%

What exactly is being priced?

Zinc (LME), high grade, minimum 99.95% purity, settlement price. The World Bank publishes the series as a monthly average in US dollars per metric ton ($/mt). Benchmark definitions occasionally change, as noted above, so very long comparisons mix slightly different contracts. See commodity price units explained for converting units.

Sources