The global refined zinc market was in a 157,000-metric-ton surplus January to March of this year, International Lead and Zinc Study Group said. That compares with a 227,000-ton surplus the same period of 2009.Total production in the first three months of 2010 was 3.049 million tons and total consumption was 2.892 million tons. Zinc yesterday we have seen that market has moved -6.92%. Market has opened at 90.55 & made a low of 83.5 versus the day high of 91.15. The total volume for the day was at 40905 lots and the open interest was at 6895.Now support for the zinc is seen at 82.2 and below could see a test of 79. Resistance is now likely to be seen at 89.8, a move above could see prices testing 94.3.

Zinc trading range is 79-94.3.

Global refined zinc market was in a 157,000MT surplus Jan - Mar - ILZSG

Resistance for zinc is seen at 86.50 and support is at 84.10.

Zinc daily stock at Shanghai exchange came up by 1977 tonnes.

BUY ZINC MAY @ 85.50 SL 84.70 TGT 86.50-87.50.MCX (EVE WEAK)