Mitsui Mining & Smelting Co. said it lowered its zinc selling price by Y10,000 to Y210,000 a metric ton. This will bring the average zinc selling price for August to Y220. Zinc yesterday we have seen that market has moved 3.15%. Market has opened at 92.6 & made a low of 92.6 versus the day high of 95.2.

The total volume for the day was at 26953 lots and the open interest was at 4943.Now support for the zinc is seen at 93.3 and below could see a test of 91.7. Resistance is now likely to be seen at 95.9, a move above could see prices testing 96.9.

Trading Ideas:

Zinc trading range is 91.7-96.9.

Mitsui Mining & Smelting Co. lowered its zinc selling price by Y10,000

Resistance for zinc is seen at 95.90 and support is at 93.30.

Zinc daily stock at Shanghai exchange came up by 122 tonnes.