Zinc has been the metal to witness the biggest gains over the past month, rising 5.5 percent to beat out counterparts copper, aluminum, and nickel. Still, although, zinc prices have fallen 29 percent in 2010, with current prices hovering dangerously near the cost of production. Zinc yesterday we have seen that market has moved 0.62%. Market has opened at 97.4 & made a low of 97.4 versus the day high of 98.1. The total volume for the day was at 1393 lots and the open interest was at 6294.Now support for the zinc is seen at 97.5 and below could see a test of 97.1. Resistance is now likely to be seen at 98.2, a move above could see prices testing 98.5.

Trading Ideas:

Zinc trading range is 97.1-98.5.

Zinc has been the metal to witness the biggest gains over the past month

Resistance for zinc is seen at 98.50 and support is at 97.10.

Zinc weekly stock at Shanghai exchange came up by 1620 tonnes.