Global zinc consumption will likely rise to 12 million tons by 2011, mainly boosted by demand recovery, sequential consumption need in western countries, said the International Zinc Association China chief representative. Zinc yesterday we have seen that market has moved 1.84%. Market has opened at 98.2 & made a low of 98.2 versus the day high of 100.5. The total volume for the day was at 29504 lots and the open interest was at 6643.Now support for the zinc is seen at 98.3 and below could see a test of 97.1. Resistance is now likely to be seen at 100.6, a move above could see prices testing 101.7.

Trading Ideas:

Zinc trading range is 97.1-101.7.

Global zinc consumption will likely rise to 12 million tons by 2011

Resistance for zinc is seen at 100.60 and support is at 98.30.

Zinc daily stock at Shanghai exchange came up by 99 tonnes.