Mitsui Mining & Smelting Co. said it lowered its zinc selling price by Y5,000 to Y250,000 a metric ton.  This will bring the average zinc selling price for March to Y249,100. Zinc yesterday we have seen that market has moved 1.06%. Market has opened at 103.55 & made a low of 103.4 versus the day high of 105.3. The total volume for the day was at 22834 lots and the open interest was at 3981.Now support for the zinc is seen at 103.4 and below could see a test of 102.5. Resistance is now likely to be seen at 105.3, a move above could see prices testing 106.3.

Trading Ideas:

Zinc trading range is 102.5-106.3.

Mitsui Mining & Smelting Co. has lowered its zinc selling price

Support for the zinc is at 103.40 and resistance is at 105.30.

Zinc daily stock at Shanghai exchange yesterday came up by 201 tonnes.

BUY ZINC MAR  @ 104.50 SL 103.60 TGT 105.20-105.80-106.40.MCX