The world refined zinc market will likely remain in surplus in 2011, as output is expected to continue to grow quickly in China, India and Mexico, the International Lead and Zinc Study Group said. Zinc yesterday we have seen that market has moved 0.42%. Market has opened at 105.8 & made a low of 105.8 versus the day high of 106.2. The total volume for the day was at 548 lots and the open interest was at 4643.Now support for the zinc is seen at 105.9 and below could see a test of 105.7. Resistance is now likely to be seen at 106.3, a move above could see prices testing 106.5.

Trading Ideas:

Zinc trading range is 105.7-106.5.

World zinc market seen in 233,000-ton surplus in 2010

Zinc looks to take support at 104.8 and resistance at 106.6.

Zinc weekly stocks at Shanghai exchange came up by 23473 tonnes.