The global refined zinc market was in a 266,000-metric-ton surplus in January to June, the World Bureau of Metal Statistics said. This was larger than the 210,000 ton surplus in all of 2009, the WBMS said. Zinc yesterday we have seen that market has moved 0.25%. Market has opened at 98.8 & made a low of 97.25 versus the day high of 99.4. The total volume for the day was at 31711 lots and the open interest was at 5437. Now support for the zinc is seen at 97.5 and below could see a test of 96.3. Resistance is now likely to be seen at 99.6, a move above could see prices testing 100.6.

Trading Ideas:

Zinc trading range is 96.3-100.6.

Global refined zinc market was in 266,000-metric-ton surplus in Jan-June

Resistance for zinc is seen at 99.60 and support is at 97.50.

Zinc daily stock at Shanghai exchange came up by 350 tonnes.