Are the zinc contracts sufficient liquid in India?

To be fair, it is not about dollar strength alone; that is at best technical. Most specific base metals have had unique factors working for them. For example China put curbs on aluminium supply which resulted in a sharp spike in aluminium prices. There was a sharp increase in the production of stainless steel and that led to a spurt in the price of Nickel as 70% of the demand for nickel comes from stainless steel alone. With respect to copper, the investment in fresh capacity is slowing down and that is keeping supply in check pushing prices higher. Zinc is a direct beneficiary of infrastructure spending and the big infrastructure push is leading to a rise in Zinc prices. So, in a nutshell there have been very specific demand-pull factors in each of the sub-segments of base metals.