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 September to Y223,500. Zinc yesterday we have seen that market has moved 1.37%. Market has opened at 100.6 & made a low of 100.6 versus the day high of 102.1. The total volume for the day was at 14667 lots and the open interest was at 4715.Now support for the zinc is seen at 101 and below could see a test of 100.1. Resistance is now likely to be seen at 102.5, a move above could see prices testing 103.1.

Trading Ideas:

Zinc trading range is 100.1-103.1.

Mitsui Mining & Smelting raises zinc price to Y225,000/ton

Resistance for zinc is seen at 102.50 and support is at 101.

Zinc daily stock at Shanghai exchange came up by 3873 tonnes.