MMG - Minmetals Non-ferrous Metals Co. reported a sharp drop in annual total zinc output to 439,046 metric tons, down 41% on the year due to transport and production issues at the Century zinc mine in Australia. Zinc yesterday we have seen that market has moved -4.63%. Market has opened at 106.5 & made a low of 101.45 versus the day high of 106.55. The total volume for the day was at 32041 lots and the open interest was at 3561.Now support for the zinc is seen at 100.00 and below could see a test of 98.10. Resistance is now likely to be seen at 105.10, a move above could see prices testing 108.30.

Trading Ideas:

Zinc trading range is 97-105.

MMG total zinc output down by 41% to 4, 39,046 MT in 2009

Century Zinc Port Loading Remains Halted due to Storm

Zinc daily stock at Shanghai exchange came down by -151 tonnes.

BUY ZINC JAN ABV 102.50 SL 101.70 TGT 102.90-103.50-104.20.MCX