Strikers at Breakwater Resources' Toqui mine in Chile said their stoppage was indefinite after wage talks failed. El Toqui was projected to produce 23,000 tonnes of zinc in 2010, according to information released by the company. Zinc yesterday we have seen that market has moved 3.13%. Market has opened at 98.9 & made a low of 98.75 versus the day high of 102.2. The total volume for the day was at 35480 lots and the open interest was at 7752. Now support for the zinc is seen at 99.8 and below could see a test of 97.6. Resistance is now likely to be seen at 103.3, a move above could see prices testing 104.5.

Trading Ideas:

Zinc trading range is 97.6-104.5.

Strikers at Breakwater Resources' Toqui mine in Chile said their stoppage was indefinite

Zinc looks to take support at 99.8 and resistance at 103.3.

Spread between zinc OCT & NOV contracts yesterday traded in the range of 1 - 1.05.