Zinc output by Mitsui Mining & Smelting Co., Japan’s biggest producer of the refined metal used to galvanize steel, may decline in the next fiscal year as it plans to shut its largest smelter for two months of maintenance. Zinc yesterday traded with the negative node and settled -0.54% down at 110.65. Some pressure had been seen from the LME stock also which came up by 1450mt, the total stock at LME is now at 711125mt. In yesterday's trading session zinc has touched the low of 110.45 after opening at 111.1, and finally settled at 110.65. For today's session market is looking to take support at 110, a break below could see a test of 109.3 and where as resistance is now likely to be seen at 111.8, a move above could see prices testing 113.

Trading Ideas:

Zinc trading range is 109.3-113.

Zinc output by Mitsui Mining & Smelting Co. may decline in the next fiscal year

Zinc looks to take resistance at 111.40 and support is at 109.40 level.

Zinc daily stocks at Shanghai exchange came up by 904 tonnes