Peru's February zinc output rose 5% to 119,076 metric tons in the month. Sharp increases in zinc production were reported at Compania Minera Antamina, up 45%, and Compania Minera Atacocha SA, up 25%. Zinc yesterday we have seen that market has moved -1.14%. Market has opened at 101.5 & made a low of 99.15 versus the day high of 101.65. The total volume for the day was at 32170 lots and the open interest was at 4550.Now support for the zinc is seen at 98.9 and below could see a test of 97.8. Resistance is now likely to be seen at 101.4, a move above could see prices testing 102.8.

Trading Ideas:

Zinc trading range is 97.8-102.8.

Peru's February zinc output rose by 5%

Support for the zinc is at 98.90 and resistance is at 101.40

Zinc daily stock at Shanghai exchange came up by 174 tons.

BUY ZINC MAR @ 100 SL 99.30 TGT 100.60-101.20-101.60.MCX (WEAK AGAIN FRM 101.50)