Minmetals Non-Ferrous Metals Co. and the world's second largest zinc miner, said zinc output at the Century mine is back on track and tipped ongoing Chinese demand to underpin the market this year. Zinc yesterday we have seen that market has moved -3.44%.

Market has opened at 101.65 & made a low of 97.85 versus the day high of 101.65. The total volume for the day was at 35489 lots and the open interest was at 2751. Now support for the zinc is seen at 96.90 and below could see a test of 95.45. Resistance is now likely to be seen at 100.70, a move above could see prices testing 103.05.

Trading Ideas:

Zinc trading range is 94-102.

China demand to underpin zinc during 2010-MMG

Support for zinc is at 97.10 and resistance is at 99.60.

Zinc daily stock at Shanghai exchange came down by -95 tonnes.

SELL ZINC JAN @ 99.50 SL 100.60 TGT 98.40-97.60-96.20.MCX