Mitsui Mining & Smelting Co. said it raised its zinc selling price by Y5,000 to Y230,000 a metric ton. This will bring the average zinc selling price for September to Y225,300. Zinc yesterday we have seen that market has moved -1.11%. Market has opened at 98.75 & made a low of 97.05 versus the day high of 98.75. The total volume for the day was at 25351 lots and the open interest was at 7326.Now support for the zinc is seen at 96.9 and below could see a test of 96.1. Resistance is now likely to be seen at 98.6, a move above could see prices testing 99.5.

Trading Ideas:

Zinc trading range is 96.1-99.5.

Mitsui Mining & Smelting raises zinc price to Y230,000/ton

Resistance for zinc is seen at 98.60 and support is at 96.90.

Zinc weekly stock at Shanghai exchange came up by 2940 tonnes.