Zinc yesterday traded with the positive node and settled 2.05% up at 107.05 tracking firm in LME prices. Some support had been seen from the LME stock also which came down by -875mt, the total stock at LME is now at
606425mt. In yesterday's trading session zinc has touched the low of 104.85 after opening at 104.95, and finally settled at 107.05. For today's session market is looking to take support at 105.5, a break below could see a test of 104 and where as resistance is now likely to be seen at 107.9, a move above could see prices testing 108.7. Spread between zinc OCT & NOV contracts yesterday ended at 1.05. Spread yesterday traded in the range of 1 - 1.5.

Trading Ideas:

Zinc trading range is 104-108.7.

Zinc yesterday traded with the positive node tracking firm in LME prices

Zinc looks to take support at 105.50 and resistance at 107.90.

Zinc daily stocks at Shanghai exchange came up by 5969 tonnes.