Zinc yesterday traded with the positive node and settled 0.4% up at 113.2 as support from US CPI for January came up by 1.6% YoY, in line with the forecast. The US dollar index overnight further fell to 77.9 from 78. LME zinc prices overnight surged to USD 2,500/mt boosted by SHFE zinc prices during the Asian trading hours, with prices opening at USD 2,514/mt, and finally closing at USD 2,525/mt above all the daily moving averages. Trading volumes decreased by nearly 20,000 lots to 38,596/mt, and total positions decreased by nearly 30,000 lots to 233,213 lots. In yesterday's trading session zinc has touched the low of 111.2 after opening at 113, and finally settled at 113.2. For today's session market is looking to take support at 111.8, a break below could see a test of 110.3 and where as resistance is now likely to be seen at 114.1, a move above could see prices testing 114.9.

Trading Ideas:

Zinc trading range is 110.3-114.9.

Zinc yesterday ended firm getting support from US CPI

Zinc looks to take resistance at 114.40 and support is at 112.10 level.

Zinc daily stocks at Shanghai exchange remained unchanged

YESTERDAY LME STOCK FOR ZINC CAME DOWN  BY -50