Zinc smelters in China, the world’s biggest producer and consumer, may boost output next month as summer maintenance programs are completed, lifting utilization rates from the lowest level since March 2009. A total of 41 smelters used 68 percent of their capacity in July, producing 282,000 metric tons, according to a survey by data-provider Shanghai Metals Market. Zinc yesterday we have seen that market has moved 0.16%. Market has opened at 95.3 & made a low of 95.2 versus the day high of 95.6. The total volume for the day was at 617 lots and the open interest was at 6118.Now support for the zinc is seen at 95.3 and below could see a test of 95. Resistance is now likely to be seen at 95.7, a move above could see prices testing 95.8.

Trading Ideas:

Zinc trading range is 95-95.8.

Zinc smelters in China may boost output next month

Resistance for zinc is seen at 96.70 and support is at 94.50.

Zinc weekly stock at Shanghai exchange came down by -12901 tonnes.