Two Chinese zinc producers in the south of Gansu province halted output after landslides disrupted power supplies and transport links, and damaged facilities. The loss of output is too small to affect prices as the zinc market is oversupplied. Zinc yesterday we have seen that market has moved -0.79%. Market has opened at 95.5 & made a low of 94.25 versus the day high of 95.7. The total volume for the day was at 20740 lots and the open interest was at 6446.Now support for the zinc is seen at 94.1 and below could see a test of 93.5. Resistance is now likely to be seen at 95.6, a move above could see prices testing 96.4.

Trading Ideas:

Zinc trading range is 93.5-96.4.

Two zinc smelters in Gansu halt output on landslides

Resistance for zinc is seen at 95.60 and support is at 94.10.

Zinc daily stock at Shanghai exchange came down by -249 tonnes.