Japan's zinc production in November fell 5% from a month earlier to 48,899 metric tons, according to preliminary data released by the Ministry of Economy, Trade and Industry. Zinc inventories fell 4% on month but were up 20% on year at 21,341 tons in November. Zinc yesterday we have seen that market has moved 0.77%.

Market has opened at 118.2 & made a low of 117.45 versus the day high of 119.2. The total volume for the day was at 22246 lots and the open interest was at 4510. Now support for the zinc is seen at 117.30 and below could see a test of 116.50. Resistance is now likely to be seen at 119.10, a move above could see prices testing 120.00.

Trading Ideas:

Zinc trading range is 114-122.

Japan’s zinc production in November fell 5% from a month earlier to 48,899 metric tons

As told earlier also a break above 116 we look prices to see till 122 level.

Zinc inventories fell 4% on month but were up 20% on year at 21,341 tons in November.

BUY ZINC DEC @117.50-118 SL 116.40 TGT 118.90-119.70-120.60-122.MCX