Hindustan Zinc raises zinc benchmark, cuts lead price
Hindustan Zinc raised its November zinc benchmark by ₹3,100 per tonne to ₹422,100 while cutting lead pricing by ₹2,400. OI Charts data showed the stock down 11.7% over 20 sessions, with futures long unwinding and maximum pain at ₹520.
after close1 source ↓machine-written, see hownot a recommendation
- HINDZINC close
- ₹505.80
- On the day
- -2.07%
- Futures OI, long unwinding
- -0.7%
- Put-call ratio
- 0.60
- Max pain
- ₹520.00
Hindustan Zinc raised its November Special High-Grade zinc benchmark by ₹3,100 per tonne to ₹422,100 per tonne on 02 Nov 2026, while cutting its lead benchmark by ₹2,400 per tonne to ₹214,300 per tonne. The revisions followed the company’s previous benchmark update on 29 Oct and reflected mixed global base-metal trends. ⚙️
BigMint’s SHG zinc assessment stood at ₹434,000 per tonne ex-Delhi, down ₹2,800, or 0.6%, from the previous assessment. That placed the domestic assessment ₹11,900 per tonne above the company’s November benchmark, although the two figures covered different assessment periods. LME zinc and lead inventories each declined 3% between 23 Oct and 30 Oct, providing a firmer underlying backdrop for zinc despite recent price fluctuations.
Zinc benchmark raised
• Zinc benchmark: ₹422,100 per tonne, up ₹3,100
• Lead benchmark: ₹214,300 per tonne, down ₹2,400
• BigMint SHG zinc assessment: ₹434,000 per tonne, down 0.6%
The pricing divergence matters for the metals segment because zinc and lead contribute differently to revenue and margin realisation. The higher zinc benchmark supports domestic reference pricing, while the lower lead benchmark points to weaker pricing for that metal. The gap between the company’s benchmark and BigMint’s assessment also gives traders a reference for tracking subsequent domestic price adjustments.
OI Charts data showed the stock at ₹505.80 on 30 Oct, down 2.1% on the day and 11.7% over 20 sessions. Volume was 3,427,231 shares, while futures open interest fell 0.7%, indicating long unwinding. The options put-call ratio was 0.6, with maximum pain at ₹520. The largest call open interest was at ₹600 and the largest put open interest at ₹500 for the 23 Nov expiry.
The next focus is the company’s follow-up benchmark revision, movements in LME inventories and domestic zinc assessments. Traders will also watch whether the ₹500 put open-interest base holds and whether the ₹520 maximum-pain level influences positioning into the 23 Nov expiry. The contrasting zinc and lead revisions keep metal-specific price trends central to the sector outlook.
Source: BigMint, 02 Nov 2026
Not investment advice. For informational purposes only.