Peru’s zinc production was also down by almost 9% to 124,621 metric tons. The ministry also noted that despite decreases at several mines, production increased at Compania Minera Antamina by 11% and at Compania Minera Atacocha SA by 10%. Zinc yesterday we have seen that market has moved -0.49%. Market has opened at 102.05 & made a low of 99.35 versus the day high of 102.35. The total volume for the day was at 33581 lots and the open interest was at 2869.Now support for the zinc is seen at 99.7 and below could see a test of 98. Resistance is now likely to be seen at 102.7, a move above could see prices testing 104.

Trading Ideas:

Zinc trading range is 98-104.

Peru’s zinc production was also down by almost 9% to 124,621 metric tons.

Support for zinc is at 100.20 and resistance is at 102.45.

Zinc daily stock at Shanghai exchange came down by -100 tonnes.

SELL ZINC FEB @ 101.50 SL 102.40 TGT 100.60-99.80-99.20.MCX