The global refined zinc market was in a 241,000-metric-ton surplus in January to May, the World Bureau of Metal Statistics said.  This was larger than the 210,000-ton surplus in all of 2009, the WBMS said.  Zinc yesterday we have seen that market has moved 2.14%. Market has opened at 86.8 & made a low of 86.8 versus the day high of 90.25.

The total volume for the day was at 32120 lots and the open interest was at 4922.Now support for the zinc is seen at 87.1 and below could see a test of 85.2. Resistance is now likely to be seen at 90.5, a move above could see prices testing 92.1.

Trading Ideas:

Zinc trading range is 85.2-92.1.

Global refined zinc market was in 241,000-metric-ton surplus in January to May – WBMS

Resistance for zinc is seen at 87.10 and support is at 90.50.

Zinc daily stock at Shanghai exchange came down by -723 tonnes.

ZINC WILL WAIT TO TAKE POSTION AS 87 LVL IS GOOD SUPPORT LEVEL