Zinc yesterday traded with the positive node and settled 0.34% up at 103.9. Some support had been seen from the LME stock also which came down by -50mt, the total stock at LME is now at 698825mt. In yesterday's trading session zinc has touched the low of 103.5 after opening at 103.75, and finally settled at 103.9. For today's session market is looking to take support at 103.5, a break below could see a test of 103 and where as resistance is now likely to be seen at 104.4, a move above could see prices testing 104.8. Spread between zinc DEC & JAN contracts yesterday ended at 1.25. Spread yesterday traded in the range of 1 - 1.3.

Trading Ideas:

Zinc trading range is 103-104.8.

Zinc settled with positive node tracking firm LME prices and fall in LME stocks also supported

Zinc looks to take support at 102.80 and resistance at 105.10.

Zinc weekly stocks at Shanghai exchange came up by 5207 tonnes.