The global zinc market was in a 192,000 metric ton surplus between January and February of this year, the World Bureau of Metal Statistics said Wednesday. That compares with a 270,000 ton surplus in the same period for 2009. Zinc yesterday we have seen that market has moved -1.12%. Market has opened at 107.1 & made a low of 105.4 versus the day high of 108.9. The total volume for the day was at 44267 lots and the open interest was at 4248.Now support for the zinc is seen at 104.6 and below could see a test of 103.3. Resistance is now likely to be seen at 108.1, a move above could see prices testing 110.3.   

Trading Ideas:

Zinc trading range is 103.3-110.3.

Global Zinc Market in 192,000-Ton Surplus Jan-Feb - WBMS

Resistance for zinc is seen at 107.10 and support is at 104.85.

Zinc daily stock at Shanghai exchange came down by -24 tonnes.

BUY ZINC APR @ 105.50 SL 104.80 SL 106.40-107.20.MCX

YESTERDAY LME STOCK FOR ZINC CAME DOWN  BY -750