The global refined zinc market was in a 424,000 metric ton surplus between January and November 2009, the International Lead and Zinc Study Group said. Global demand fell by 7.1% during the period with falls in most countries except China where demand increased by 16.9%, ILZSG said.

Zinc yesterday we have seen that market has moved -2.05%. Market has opened at 115.35 & made a low of 111.05 versus the day high of 115.4. The total volume for the day was at 27270 lots and the open interest was at 4071. Now support for the zinc is seen at 110.6 and below could see a test of 108.65. Resistance is now likely to be seen at 114.95, a move above could see prices testing 117.35.

Trading Ideas:

Zinc trading range is 110-119.

Global refined zinc market was in a 424,000MT surplus between Jan to Nov

Zinc is getting support at 111.30 and resistance at 113.70 level.

Zinc daily stock at Shanghai exchange came down by -274 tonnes.

SELL ZINC JAN ON JUMP TILL 113.80 SL 114.80 TGT 113-112.10-111.60. MCX