China Minmetals Corp., the nation’s largest metals trader, said it suspended shipping zinc concentrate at Karumba port in Australia’s Gulf of Carpentaria because of a weather warning. Zinc yesterday we have seen that market has moved 0.4%. Market has opened at 112.6 & made a low of 112.15 versus the day high of 113.65.

The total volume for the day was at 12153 lots and the open interest was at 4663. Now support for the zinc is seen at 112.00 and below could see a test of 111.30. Resistance is now likely to be seen at 113.50, a move above could see prices testing 114.30.

Trading Ideas:

Zinc trading range is 108-116.

Minmetals zinc shipments suspended on cyclone threat

Zinc is having support at 111.60 but still looks to trade firm above 110 mark

Zinc daily stock at Shanghai exchange came up by 4781 tonnes.

BUY ZINC JAN ABV 113.05 SL 112 TGT 113.80-114.50-115.20. MCX