Mitsui Mining & Smelting Co. said it lowered its zinc selling price by Y5,000 to Y200,000 a metric ton. This will bring the average zinc selling price for June to Y234,000. Zinc yesterday we have seen that market has moved 1.95%. Market has opened at 79.8 & made a low of 78.9 versus the day high of 83.2. The total volume for the day was at 34673 lots and the open interest was at 6964.Now support for the zinc is seen at 79.5 and below could see a test of 77.1. Resistance is now likely to be seen at 83.8, a move above could see prices testing 85.7.

Trading Ideas:

Zinc trading range is 77.1-85.7.

Mitsui Mining & Smelting lowers zinc price to Y200,000/ton

Resistance for zinc is seen at 83.20 and support is at 80.70.

Zinc daily stock at Shanghai exchange came down by -6657 tonnes.

SELL ZINC JUNE BELOW 81 SL 82.40 TGT 80.10-79.20-78.60.MCX