Zinc yesterday traded with the positive node and settled 1.34% up at 115.55 as support from LME zinc prices seen where it rose to USD 2,596/mt boosted by SHFE zinc prices during the Asian trading hours. But the risk appetite of investors was depressed due to the unrest in Arab countries. In this context, the US dollar index moved between 77.5 and 77.8. LME zinc prices were unable to break USD 2,600/mt and finally closed at USD 2,545/mt. Trading volumes increased by over 10,000 lots to 40,688 lots, and total positions increased by nearly 3,000 lots to 235,188 lots. In yesterday's trading session zinc has touched the low of 114.35 after opening at 114.35, and finally settled at 115.55. For today's session market is looking to take support at 114.7, a break below could see a test of 113.8 and where as resistance is now likely to be seen at 116.2, a move above could see prices testing 116.8.

Trading Ideas:

Zinc trading range is 113.8-116.8.

Zinc yesterday traded with the positive node getting  support from LME zinc prices

Zinc looks to take resistance at 116.80 and support is at 114.20 level.

Zinc daily stocks at Shanghai exchange came up by 1881 tonnes

YESTERDAY LME STOCK FOR ZINC CAME DOWN  BY -100