China has shut several small zinc and lead mines in Inner Mongolia due to snow storms, but the market impact will likely be limited since such storms are common in winter, which is traditionally off season. Zinc yesterday we have seen that market has moved 3.69%. Market has opened at 118 & made a low of 118 versus the day high of 123.2. The total volume for the day was at 32642 lots and the open interest was at 6882.Now support for the zinc is seen at 119.00 and below could see a test of 115.90. Resistance is now likely to be seen at 124.20, a move above could see prices testing 126.30.

Trading Ideas:

Zinc trading range is 118-126.

China shuts several zinc mines amid cold weather

As told already zinc above 120 mark looks strong still its looks strong till 125 level.

Spread between zinc JAN & FEB contracts yesterday ended at 0.30

BUY ZINC JAN @ 120 SL 119 TGT 121.20-122-122.80.MCX