Belgium zinc producer Nyrstar S. A. is on track to return its Balen zinc smelter to 100% full operating capacity at the end of the first quarter. Zinc yesterday we have seen that market has moved 1.83%. Market has opened at 112.95 & made a low of 112.75 versus the day high of 115.35. The total volume for the day was at 26578 lots and the open interest was at 3817.

Now support for the zinc is seen at 113.30 and below could see a test of 111.70. Resistance is now likely to be seen at 115.90, a move above could see prices testing 116.90.

Trading Ideas:

Zinc trading range is 110-119.

Belgium zinc producer is on track to return its Balen zinc smelter to 100% full operating capacity

Yesterday zinc was traded between RMB 19,930-19,980/mt in Shanghai market

Zinc may be in deficit from 2011 as mine output declines following the closure of large operations.

SELL ZINC JAN @ 115 SL 116.40 TGT 114.20-113.60-112.90.MCX