Heavy snowfall in northern China, the world's largest metal consumer, is slowing the pace of building works and will curb usage of zinc. The reduction in demand will probably offset any decline in output of the metal because of the weather. Zinc yesterday we have seen that market has moved 0.34%. Market has opened at 116.2 & made a low of 115.3 versus the day high of 117.95. The total volume for the day was at 23135 lots and the open interest was at 4599.Now support for the zinc is seen at 114.90 and below could see a test of 113.80. Resistance is now likely to be seen at 117.60, a move above could see prices testing 119.10.

Trading Ideas:

Zinc trading range is 112-120.

Heavy snowfall in northern China will curb usage of zinc

Zinc is having support at 115.05 level and resistance at 117.30.

Zinc daily stock at Shanghai exchange came unchanged after rising by 50000 tonnes Friday.

SELL ZINC JAN @ 116.50 SL 117.40 TGT 115.90-115.20-114.50.MCX