Zinc yesterday traded with the negative node and settled -0.05% down at 103.8. Some pressure had been seen from the LME stock also which came up by 275mt, the total stock at LME is now at 699450mt. In yesterday's trading session zinc has touched the low of 103.65 after opening at 103.95, and finally settled at 103.8. For today's session market is looking to take support at 103.6, a break below could see a test of 103.4 and where as resistance is now likely to be seen at 104, a move above could see prices testing 104.2. Spread between zinc DEC & JAN contracts yesterday ended at 1.15, we have seen yesterday that the zinc market had traded with a negative node and settled -0.05% down. Spread yesterday traded in the range of 1 - 1.25.

Trading Ideas:

Zinc trading range is 103.4-104.2.

Zinc yesterday traded with the negative node and settled -0.05% down

Zinc looks to take support at 102.40 and resistance at 104.70.

Zinc weekly stocks at Shanghai exchange came up by 4051 tonnes.