Mitsui Mining & Smelting Co. said it lowered its zinc selling price by Y30,000 to Y240,000 a metric ton. Zinc yesterday we have seen that market has moved 0.05%. Market has opened at 95.5 & made a low of 93.4 versus the day high of 96.7. The total volume for the day was at 41585 lots and the open interest was at 6244.Now support for the zinc is seen at 93.5 and below could see a test of 91.8. Resistance is now likely to be seen at 96.8, a move above could see prices testing 98.4.

Trading Ideas:

Zinc trading range is 91.8-98.4.

Mitsui Mining & Smelting Co. has lowered its zinc selling price

Resistance for zinc is seen at 96.80 and support is at 93.50.

Zinc daily stock at Shanghai exchange came down by -150 tonnes.

SELL ZINC MAY @ 96 SL 97.20 TGT 95-94.20-93.50.MCX