The global zinc market's poor fundamentals point to further price weakness in the coming months as supply continues to outstrip lackluster demand. The fundamentals are dire. There's no escaping the fact that we're heading for a substantial surplus this year on top of last year's surplus. Zinc yesterday we have seen that market has moved 0.06%. Market has opened at 81.15 & made a low of 80.8 versus the day high of 81.4. The total volume for the day was at 951 lots and the open interest was at 7685.Now support for the zinc is seen at 80.8 and below could see a test of 80.5. Resistance is now likely to be seen at 81.4, a move above could see prices testing 81.7.

Trading Ideas:

Zinc trading range is 80.5-81.7.

The global zinc market's poor fundamentals point to further price weakness in coming months

Resistance for zinc is seen at 81.70 and support is at 80.50.

Zinc weekly stock at Shanghai exchange came down by -4528 tonnes.

BUY ZINC JUNE @ 81 SL 79.90 TGT 81.50-82.10-82.80.MCX