China's zinc output this year may grow 15% to 5 million tonnes while lead output is likely to grow 7% to 8% from last year to 4.05 million tonnes in response to rising demand. Zinc yesterday we have seen that market has moved
-1.1%. Market has opened at 99.1 & made a low of 98 versus the day high of 99.3. The total volume for the day was at 31856 lots and the open interest was at 8500. Now support for the zinc is seen at 97.9 and below could see a test of 97.3. Resistance is now likely to be seen at 99.2, a move above could see prices testing 99.9.

Trading Ideas:

Zinc trading range is 97.3-99.9.

China's zinc output this year may grow 15% to 5 million tonnes

Resistance for zinc is seen at 99.20 and support is at 97.90.

Zinc daily stock at Shanghai exchange came up by 10361 tonnes.