Zinc yesterday traded with the positive node and settled 0.22% up at 115.3. In yesterday's trading session zinc has touched the low of 115.15 after opening at 115.15, and finally settled at 115.3. For today's session market is looking to take support at 115.1, a break below could see a test of 114.9 and where as resistance is now likely to be seen at 115.5, a move above could see prices testing 115.7. In other US economic news, University of Michigan-consumer sentiment survey rose to a January reading of 73.8, up from 72.9 in December. Economists expected a January reading of 71.5. The Institute for Supply Management said its manufacturing index for January climbed to 53.1% from 50.2% in December. Economists expected a January reading of 51%. Readings above 50% indicate expansion. Elsewhere, National Bank Financial published a report today saying the world is heading for a major gold production over the next several years. NBF said that starting in 2017, nearly all major gold producers could face production declines because discovery frequency will not be sufficient to replace current levels of production. Nickel yesterday traded with the positive node and settled 0.13% up at 990.9. In yesterday's trading session nickel has touched the low of 988.1 after opening at 988.1, and finally settled at 990.9. For today's session market is looking to take support at 988.5, a break below could see a test of 986.2 and where as resistance is now likely to be seen at 992.8, a move above could see prices testing 994.8.

Trading Ideas:

Zinc trading range for the day is 114.93-115.73.

Zinc ended with gains after data showed US ISM manufacturing in January was better than forecasts.

The value of zinc mined in the United States was $1.53 billion in 2012, produced in three states at 13 mines operated by four companies.

Zinc weekly stocks at Shanghai exchange came up by 2122 tonnes