Xstrata zinc in concentrate production increased by 15 percent to 255 913t in the first quarter of 2010 compared to the same period in 2009 as a result of the ongoing transformation through expansions at the Australian operations and productivity improvements at most other sites. Zinc yesterday we have seen that market has moved -0.57%. Market has opened at 95.9 & made a low of 90.05 versus the day high of 97.35. The total volume for the day was at 58770 lots and the open interest was at 6625.Now support for the zinc is seen at 91.1 and below could see a test of 86.9. Resistance is now likely to be seen at 98.4, a move above could see prices testing 101.5.

Trading Ideas:

Zinc trading range is 86.9-101.5.

Xstrata zinc output increases by 15 percent to 255 913t

Resistance for zinc is seen at 96.30 and support is at 94.10.

Zinc daily stock at Shanghai exchange came up by 978 tonnes.

BUY ZINC MAY ABV 95.50 SL 94.30 TGT 96.40-97.80.MCX