Zinc volumes on the Shanghai Futures Exchange surged in the second quarter of this year, reinforcing perceptions that prices on the exchange are fast becoming benchmarks for Asia. Total zinc futures volumes were up 77 percent at 178 million tonnes. That compares with rises of 15 and 107 percent respectively in the first quarter. Zinc yesterday we have seen that market has moved -0.64%. Market has opened at 86.1 & made a low of 84.5 versus the day high of 86.2. The total volume for the day was at 21412 lots and the open interest was at 5298.Now support for the zinc is seen at 84.9 and below could see a test of 83.9. Resistance is now likely to be seen at 86.6, a move above could see prices testing 87.3.

Trading Ideas:

Zinc trading range is 83.9-87.3.

Zinc volumes on the Shanghai Futures Exchange surged in second quarter of this year

Resistance for zinc is seen at 86.50 and support is at 84.90.

Zinc daily stock at Shanghai exchange came down by -1274 tonnes.