Mitsui Mining & Smelting Co. said it raised its zinc selling price by Y10,000 to Y210,000 a metric ton. This will bring the average zinc selling price for June to Y208,400. Zinc yesterday we have seen that market has moved -3.42%. Market has opened at 82.8 & made a low of 80.1 versus the day high of 82.8. The total volume for the day was at 28725 lots and the open interest was at 9245.Now support for the zinc is seen at 79.5 and below could see a test of 78.4. Resistance is now likely to be seen at 82.2, a move above could see prices testing 83.8.

Trading Ideas:

Zinc trading range is 79.5-80.7.

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

Resistance for zinc is seen at 82.20 and support is at 79.50.

Zinc daily stock at Shanghai exchange came down by -11898 tonnes.

SELL ZINC JUNE @ 81.20 SL 82.50 TGT 80.50-79.50.MCX