Mitsui Mining & Smelting Co., Japan’s biggest refined zinc producer, plans to increase output at its Hachinohe smelter by 11 percent in the year starting from April 1. Mitsui Mining projects Japan’s zinc exports to decline to 110,000 tons in calendar 2010, down from a record 156,000 tons in 2009, while the country’s domestic consumption may rise to 526,800 tons from 433,000 tons.

Zinc yesterday we have seen that market has moved -0.37%. Market has opened at 107.05 & made a low of 105.3 versus the day high of 107.35. The total volume for the day was at 32583 lots and the open interest was at
5731. Now support for the zinc is seen at 105.6 and below could see a test of 104.4. Resistance is now likely to be seen at 107.6, a move above could see prices testing 108.5.

Trading Ideas:

Zinc trading range is 104.4-108.5.

Mitsui Mining plans to increase zinc output at smelter in Japan

Support for the zinc is at 105.60 and resistance is at 107.90.

Hunan Nonferrous sees 2010 China zinc demand up 10 pct

BUY ZINC MAR ON PULL BACK AT 105 SL 103.80 TGT 105.80-106.60-107.50. MCX