The global zinc market was in surplus by 223,000 tonnes in the first 11 months of 2010, the latest monthly bulletin from Lisbon-based International Lead and Zinc Study Group showed. Global refined zinc use amounted to 11.454 million tonnes, compared with 9.812 million in January-November 2009. Zinc yesterday we have seen that market has moved 0.24%. Market has opened at 105.95 & made a low of 105.85 versus the day high of 106.2. The total volume for the day was at 698 lots and the open interest was at 8226.Now support for the zinc is seen at 105.9 and below could see a test of 105.7. Resistance is now likely to be seen at 106.3, a move above could see prices testing 106.4.

Trading Ideas:

Zinc trading range is 105.7-106.4.

Zinc market has 223,000t surplus Jan-Nov'10 -ILZSG

Zinc looks to take resistance at 106.90 and support is at 104.80 level.

Zinc weekly stocks at Shanghai exchange came up by 3334 tonnes

BUY ZINC JAN ABV 106.80 SL 106 TGT 107.40-108.20-108.75.MCX