Zinc exports from Japan may drop by 33 percent in 2010, after reaching a record this year, as domestic demand rises from the lowest level in more than three decades. Zinc yesterday traded with the negative node and settled -0.86% down at 104.25.

Some pressure had been seen from the LME stock also which came down by 1500mt, the total stock at LME is now at 455425mt. In yesterday's trading session zinc has touched the low of 104 after opening at 105.5, and finally settled at 104.25. For today's session market is looking to take support at 103.60, a break below could see a test of 103.80 and where as resistance is now likely to be seen at 105.10, a move above could see prices testing 106.80.

Trading Ideas:

ZINC TRADING RANGE IS 99.50-106.50.

JAPAN'S ZINC EXPORTS MAY DROP 33% IN 2010 AS LOCAL DEMAND RISES

BUY ZINC NOV @ 103-103.50 SL 102.400 TGT 104.30-105.60-106.80.MCX

ZINC IS GETTING SUPPORT AT 103.75 AND RESISTANCE AT 106.00 LEVELS.

SPREAD BETWEEN ZINC NOV & DEC CONTRACTS YESTERDAY ENDED AT 0.55.