Traders tripled orders to withdraw zinc from warehouses monitored by the LME, most of it in New Orleans, after a producer suspended supply contracts. There are "supply worries" after a producer declared force majeure earlier this week. Zinc yesterday we have seen that market has moved 0.77%. Market has opened at 98.2 & made a low of 98.15 versus the day high of 99.55. The total volume for the day was at 24825 lots and the open interest was at 6241.Now support for the zinc is seen at 98.1 and below could see a test of 97.4. Resistance is now likely to be seen at 99.5, a move above could see prices testing 100.2.

Trading Ideas:

Zinc trading range is 97.4-100.2.

Zinc canceled warrants triple after suspension

Resistance for zinc is seen at 99.50 and support is at 98.10.

Zinc daily stock at Shanghai exchange came up by 100 tonnes.