Demand for refined zinc metal in 2010 is forecast to be higher in Brazil, India, Japan, Mexico, Taiwan (China) and the United States. In 2011, world usage is expected to rise by 5.8 per cent to 9.55 million tons in 2011. Zinc yesterday we have seen that market has moved 0.71%. Market has opened at 105.7 & made a low of 104.6 versus the day high of 107.2. The total volume for the day was at 24591 lots and the open interest was at 4894.Now support for the zinc is seen at 105.3 and below could see a test of 103.7. Resistance is now likely to be seen at 107.9, a move above could see prices testing 108.9.

Trading Ideas:

Zinc trading range is 103.7-108.9.

Demand for refined zinc metal in 2010 is forecast to be higher

Zinc looks to take support at 105.3 and resistance at 107.9.

Zinc daily stocks at Shanghai exchange came up by 7949 tonnes.