Zinc oversupply will be a recurring theme in the next three years and will make new record highs "hard to justify".  Zinc yesterday we have seen that market has moved -0.19%. Market has opened at 106.4 & made a low of 105.15 versus the day high of 107.15. The total volume for the day was at 30718 lots and the open interest was at 4792.Now support for the zinc is seen at 104.8 and below could see a test of 104. Resistance is now likely to be seen at 106.8, a move above could see prices testing 108.

Trading Ideas:

Zinc trading range is 104-108.

Zinc oversupply will be a recurring theme in the next three years

Zinc looks to take support at 104.8 and resistance at 106.8.

Zinc daily stocks at Shanghai exchange came up by 3680 tonnes.