Mitsui Mining & Smelting Co said it lowered its zinc selling price by Y10,000 to Y245,000 a metric ton.  This will bring the estimated average zinc selling price for December to Y246,600. Zinc yesterday we have seen that market has moved -1.16%.

Market has opened at 107.3 & made a low of 106.1 versus the day high of 108.8. The total volume for the day was at 17537 lots and the open interest was at 2721.Now support for the zinc is seen at 105.40 and below could see a test of 104.40. Resistance is now likely to be seen at 108.10, a move above could see prices testing 109.80.

Trading Ideas:

ZINC TRADING RANGE IS 102-111.

MITSUI MINING & SMELTING CO HAS LOWERED ITS ZINC SELLING PRICE

SELL ZINC DEC @ 106.50 SL 107.80 TGT 105.80-105.10-104.50.MCX

SUPPORT FOR ZINC IS AT 105.40 AND RESIST IS AT 107.80 LEVEL.

ZINC DAILY STOCK AT SHANGHAI EXCHANGE CAME UP BY 24 TONNES