Mitsui Mining & Smelting Co. said it raised its zinc selling price by Y10,000 to Y220,000 a metric ton. Zinc yesterday we have seen that market has moved -1.25%. Market has opened at 88.9 & made a low of 87.1 versus the day high of 89.05. The total volume for the day was at 24153 lots and the open interest was at 5696.Now support for the zinc is seen at 87.1 and below could see a test of 86.1. Resistance is now likely to be seen at 89.1, a move above could see prices testing 90.

Trading Ideas:

Zinc trading range is 88.4-90.1.

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

Resistance for zinc is seen at 89.10 and support is at 87.10.

Zinc daily stock at Shanghai exchange came down by -4403 tonnes.

SELL ZINC JUNE @ 88 SL 89.20 TGT 87.20-86.50-85.80.MCX