Mitsui Mining & Smelting Co. said it raised its zinc selling price by Y10,000 to Y225,000 a metric ton. This will bring the average zinc selling price for August to Y223,600. Zinc yesterday we have seen that market has moved -0.62%. Market has opened at 97.2 & made a low of 95.85 versus the day high of 98.15. The total volume for the day was at 33686 lots and the open interest was at 7393.Now support for the zinc is seen at 95.4 and below could see a test of 94.5. Resistance is now likely to be seen at 97.7, a move above could see prices testing 99.1.

Trading Ideas:

Zinc trading range is 94.5-99.1.

Mitsui Mining & Smelting Co. has raised its zinc selling price by Y10,000

Resistance for zinc is seen at 97.70 and support is at 95.40.

Zinc daily stock at Shanghai exchange came down by -177 tonnes.