Zinc prices ended higher tracking rise in LME prices and arbitrage trading with lead. Lead, zinc normally move in tandem, but lead 3% higher than zinc in past few months, giving arbitrage opportunity. Zinc yesterday we have seen that market has moved 1.92%. Market has opened at 89.15 & made a low of 89.15 versus the day high of 90.6. The total volume for the day was at 25764 lots and the open interest was at 4233. Now support for the zinc is seen at
89.4 and below could see a test of 88.5. Resistance is now likely to be seen at 90.8, a move above could see prices testing 91.4.

Trading Ideas:

Zinc trading range is 88.5-91.4.

Zinc prices ended higher tracking rise in LME prices and arbitrage trading

Resistance for zinc is seen at 90.80 and support is at 89.40.

Zinc daily stock at Shanghai exchange came down by -226 tonnes.